Natural
disasters may be defined as involving Mother Nature and her fury! Natural disasters particularly often include
wind damage and flood damage. Of course,
hurricanes and cyclones often cause additional damages due to power outages.
Flood insurance is available
through both private and government programs.
The dollar premiums for such insurance coverage however are becoming
more and more expensive as storms become increasingly prevalent.
Generally speaking homeowner insurance
policies do not cover flood damage caused by a natural disaster. Flooding caused by frozen pipes may or may
not be covered in a homeowner policy, but reimbursement for such damages is
normally accompanied by a homeowner cost-sharing mechanism, known as the
deductible!
Wind damage is normally covered
by homeowner insurance policies, but wind damage cause by a hurricane or
cyclone may involve deductibles based on a percent of the home’s actual insured
value.
Several points to remember about
natural disaster insurance coverage and claims you submit for reimbursement for
that damage.
1. Review your coverage with your insurance
agent so you fully understand the coverage you have for flood, hail, wind, etc.
damage.
2. Review the type of deductible you have for
any “natural disaster” insurance coverage.
3. Record your insurance policy number and your
insurance agent information in several places other than your home.
4. Maintain an accurate record of the contents
of your home detailing the type of
possession, the cost of the possession, and
when and where it was purchased. This
record could be both a video and fact
record. An online application that might
help
guide you in this effort is available at
the Insurance Information Institute’s website
>www.iii.org/software<. Search for the home inventory”
application.
5. Maintain an accurate, written record of your
conversations with the claims adjuster who reviews the natural disaster to your home
and personal property.
Understand your insurance coverage and
how to proceed when a disaster occurs. Contact your favorite insurance agent
(Mike Carter, Andrea Shearer, or Tessa Everman) at the Triplett Companies
(515/232-5240) or more information.
