RICHMOND — With peak hurricane season upon us, the
Virginia State Corporation Commission’s (SCC) Bureau of Insurance reminds Virginians
to act now to protect their property from loss.
The Bureau urges Virginians to plan ahead and know what to do before a hurricane
or other disaster strikes your home or business property. Review your insurance
policy to make sure you have enough coverage in the event of a disaster. Know what
your policy does and does not cover. The Bureau also encourages policyholders to
consider the following:
- Does your homeowners policy contain a special deductible for
wind or hurricane losses? These deductibles are applied separately from any
other deductible on a homeowners policy. Some companies require these deductibles,
while others offer them at the policyholder’s option. The amount and application
of these deductibles may vary by insurance company, home value, location and other
factors. They may be written as a flat amount, such as $1,000, or may be applied
to a loss as a percentage of the insurance coverage on the dwelling.
- Is your home covered in the event of a flood, surface water,
or storm surge? Keep in mind that even areas hundreds of miles from the coast
are at risk of flooding as hurricanes and tropical storms move inland bringing torrential
rains and high winds. Homeowners insurance policies issued in Virginia generally
do not provide coverage for damage to your home and belongings due to floods. However,
flood insurance is available through the National Flood Insurance Program (NFIP).
Contact your insurance agent or company about purchasing this coverage or visit
the NFIP website at www.floodsmart.gov
. In
most cases, there is a 30-day waiting period for this coverage to take effect.
- Are vehicles covered in the event of a hurricane or windstorm? If
you have comprehensive coverage on your automobile policy, your vehicles would be
covered.
- Does your homeowners policy provide any coverage for such
things as sewer backup? Most homeowners policies do not provide coverage
for sewer backup, but policyholders may purchase additional coverage for this.
Ask your insurance company or agent how you can minimize property damage if disaster
strikes and how to expedite the processing of claims with your insurance company.
Prepare an inventory of your personal property ahead of time including photographs,
videotapes, and serial numbers. Keep a copy of this inventory, as well as your insurance
policy and all of your important documents, in a handy place in your home. Also
keep these documents in a safe and easily-accessible location away from your home.
If you must evacuate, know the name of your insurance company and take your policy
with you. It will contain your policy number and the phone number of your insurance
company in the event you have questions or need to file a claim.
If your property is damaged, call your insurance company or agent as soon as possible.
Make any necessary emergency repairs and take reasonable steps to prevent further
damage to your property. Record all damage to your property and include photographs,
notes, and repair-related receipts.
The Bureau of Insurance is Virginians’ source for insurance information. It has
specially-trained staff that can help consumers with disaster-related insurance
questions or problems. For more information, contact the Bureau of Insurance Property
and Casualty Division at (804) 371-9185 or toll-free at 1-877-310-6560. Consumers
who are hearing or speech impaired may call through the SCC’s Telecommunications
Device for the Deaf and hard of hearing (TDD) at (804) 371-9206.
The SCC is located in the Tyler Building at 1300 East Main Street in downtown Richmond.
Correspondence may be mailed to the Bureau of Insurance at P.O. Box 1157, Richmond,
VA 23218.
The Bureau offers free consumer homeowners, auto and commercial insurance guides,
as well as disaster guides for homeowners and businesses. The disaster guides deal
specifically with insurance-related disaster recovery issues and provide answers
to the most commonly asked questions about settling disaster-related insurance problems.
These and many other consumer insurance guides are available on the Bureau’s website
at www.scc.virginia.gov/boi.
For additional emergency preparedness information relating to hurricanes and other
types of disasters, visit www.readyvirginia.gov.
This statewide public education effort is designed to prepare Virginians for all
kinds of hazards.
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