Courtesy of iii.org In the event of a sudden, catastrophic event, you may have just minutes to gather your family and get out of your house—possibly for good. What would you take? Where would you go? Planning ahead for the worst can help minimize the impact of a tragedy and may even save lives. This …
Courtesy of iii.org With predictions of an above-average hurricane season issued by Colorado State University this week, businesses need to take measures to prepare and increase their chance of surviving, according to the Insurance Information Institute (I.I.I.). Forty percent of businesses do not reopen after a disaster and another 25 percent fail within one year, …
Courtesy of iii.org Florida accounted for 13 percent of all U.S. insured catastrophe losses from 1987 to 2016: $70.8 billion out of $364.3 billion, based on data from the PCS division of ISO. (Adjusted for inflation by ISO using the GDP implicit price deflator.) Six of the 10 costliest hurricanes in U.S. history have impacted …
Courtesy of iii.org Floods occur in every region and 90 percent of all natural disasters the United States involve some type of flooding. Minimize the damage and losses from a flood by taking these precautions. Understand flood watches and flood warnings There are different alerts for floods, depending on the type of and immediacy of …
Courtesy of iii.org National Flood Insurance Reform In 2012 the Biggert-Waters Flood Insurance Reform Act was passed in an attempt to make the federal flood insurance program more financially self-sufficient by eliminating rate subsidies that many property owners in high-risk areas receive. But in March 2014 Congress rescinded many of the rate increases called …
Courtesy of iii.org Flooding is the most common and costly natural disaster in the United States, causing billions in economic losses each year. According to the National Flood Insurance Program (NFIP), 90 percent of all natural disasters in the United States involve flooding. There is no coverage for flooding in standard homeowners or renters policies …
Courtesy of iii.org Cleaning up after a flood can pose health risks. You and your family should wait to re-enter your home until professionals tell you it is safe, with no structural, electrical or other hazards. Before you start cleanup activities, contact your insurance company and take pictures of the home and your belongings. Remember, …
Courtesy of iii.org In the aftermath of Hurricane Harvey and Hurricane Irma, policyholders may have questions about how insurance works following a natural disaster. Here are some answers to many of these common questions. Q. Are flood losses covered under my homeowners insurance policy? A. Standard homeowners and renters insurance policies do not cover flood …
Standard homeowners and renters insurance does not cover flood damage. Flood coverage, however, is available in the form of a separate policy both from the National Flood Insurance Program – NFIP (888-379-9531) and from a few private insurers. The NFIP provides coverage for up to $250,000 for the structure of the home and $100,000 for …
Courtesy of http://www.iii.org/fact-statistic/flood-insurance A full moon and high winds caused significant tidal flooding during last weekend’s east coast blizzard. Flood damage is excluded under standard homeowners and renters insurance policies. However, flood coverage is available in the form of a separate policy both from the National Flood Insurance Program (NFIP) and from a few private …
