CHICAGO – May 11, 2015 – (RealEstateRama) — With the aftermath of Tropical Storm Ana, and the violent tornadoes that swept through Texas and Oklahoma the Property Casualty Insurers Association of America (PCI) wants to offer insurance recovery information to help in the wake of these storms.
“In the past few days we’ve seen a tropical storm hit the Carolinas, violent tornadoes hit the Midwest and Texas coupled with severe flooding leaving several people either without a home or with severely damaged property,” said Chris Hackett, PCI’s director of personal lines policy. “Insurance adjusters are in the field working with those impacted by this recent round of violent weather helping victims put their lives back together and begin the rebuilding process,” added Hackett.
With the start of hurricane season and May being the most violent month for tornadoes, we can anticipate more storms. It’s important to be prepared for severe weather events. “If there’s damage to your home or property contact your insurance agent or company immediately as they can help you begin the recovery process,” said Hackett.
Most tornado and severe weather related events are covered by either homeowners, renters, or commercial insurance policies.
Renters insurance also provides coverage to policyholder possessions under this peril. Business owners are covered under their commercial policies. Protection from windstorm or hail damage for cars is covered under the comprehensive portion of the automobile insurance policy.
PCI Tips If You Experience a Loss from a Storm:
• Secure property from further damage or theft.
• Contact your insurance agent or company representative as soon as possible to report damage.
• Inventory losses and photograph damage to provide to your insurance adjustor. Save receipts.
• If you are a business owner, keep detailed records of business activity that is negatively affected due to the tornado or storm and keep a list of extra expenses during the interruption. Prepare records to show the income from the business before and after the loss.
• Many standard homeowners and renter’s policies provide reimbursement of additional living expenses when the property is determined to be uninhabitable due to damage. This provision helps with paying for increases to necessary living expenses such as temporary housing and restaurant meals. In addition, extra expenses such as overnight parking and laundry services may also be covered. Additional living expense coverage does not pay for all living expenses, so contact your insurance company or agent for a list of what your policy will cover.
• Be careful about unscrupulous contractors following a natural disaster. Contact your insurer, agent or local business bureau for references on potential contractors and ask for certificates of liability and workers compensation before signing contracts.
Continue to follow @PCIAA use #becovered or #calmbeforestorm where we will offer important recovery and severe weather tips.
PCI promotes and protects the viability of a competitive private insurance market for the benefit of consumers and insurers. PCI is composed of nearly 1,000 member companies, representing the broadest cross section of insurers of any national trade association. PCI members write more than $183 billion in annual premium, 35 percent of the nation’s property casualty insurance. Member companies write 42 percent of the U.S. automobile insurance market, 27 percent of the homeowners market, 32 percent of the commercial property and liability market and 34 percent of the private workers compensation market.