CODE RED: Sounding The Insurance Alarm — Be Prepared

Hurricane Ida tore through the eastern United States in September 2021 dropping record and lethal amounts of rainfall. Out west relentless heat waves and historic droughts have driven one of the worst fire storm seasons in history. Elsewhere in the world the effects of climate change are being felt just as acutely from Asia to Europe to South America. The world’s weather patterns are changing right before our eyes. This is our new reality.

After each storm and flooding event we find ourselves delivering devastating news to our clients — flood and water damage they’ve sustained is not covered by their homeowner’s or commercial insurance policy. But rather, they needed a separate flood insurance policy issued through FEMA.

These water events are not an anomaly. They are not a once in a 100-year storm — not by a long shot. Extreme weather events are happening with greater frequency and increasing intensity. 

Aside from becoming more climate conscious and an advocate for change, what can you do to prepare your home, business, and family for the next storm? More than you think. Because if history is any indicator, there will be a next storm, it’s just a matter of how much destruction will ensue and when it will happen. 

A few tips, guidance and suggestions from M. Miller and Son

• Hire a certified licensed professional advocate

It’s an interesting social observation. When in search of legal advice, we hire an attorney to represent us. If we experience a healthcare crisis, we engage a medical specialist. So why is it when making the decision to purchase property insurance, we entertain the option of purchasing insurance online? To save a few dollars? Perhaps. But in essence, we’ve partnered with a non-human algorithm to guide us and protect our most valuable investments. As many victims of Hurricane’s Ida, Sandy and Irene (just to name a few) can attest to, this decision can be incredibly costly and short sighted. 

Purchasing insurance from an independent agent who can assess your personal insurance needs, make recommendations and ensure you are properly insured in the event of a loss — now more than ever — is priceless. Even if you don’t live near a body of water, protecting your home from unexpected water intrusion is something to consider.

Important to note: A typical homeowner or commercial-package policy does not cover damage to your home or business in the event of a flood. A separate flood policy underwritten by your insurance company through the National Flood Insurance Program (NFIP), is available for a nominal annual fee. Ask your independent insurance agent for more information. Please be advised if you live in a flood zone you will pay more for flood insurance than if you live or work in a non-flood zone. We strongly urge you to consider purchasing “flood insurance” no matter where you live or work.

• Purchase flood/ water insurance coverage

Standard homeowner policies do not cover flood losses. You should consider purchasing flood insurance even if you’re not required to purchase or live outside a flood zone. Flood insurance can protect you from the catastrophic financial impact of flooding. Just a few inches of water can mean thousands of dollars of loss to your home or business. 

As a homeowner or business owner you can purchase building and contents coverage as the result of a flood through your insurance provider or from the NFIP. (see FEMA.gov)  Renters can purchase coverage for contents only. Now is the perfect time to protect your family, your home and your business from flood — before the next storm. Important to note: If you purchase flood insurance today there is typically a 30-day waiting period. 

• Create a video inventory and document everything

With the advent of cell phones, we all have the ability to take a picture or video at a moment's notice.Take a few minutes and document your belongings, valuables, equipment and possessions — the items that truly matter to you and your insurance company in the event of a loss.

How to create a video inventory: Take pictures and video of everything you own, then itemize and store the information in a safe place. The best way to get started is to take your cell phone, switch it to video and start outside your home. Capture what your roof looks like, what the trees surrounding the home look like. Do you have a new patio, fire pit or outdoor entertaining space? Comment into the video as you move from space to space. Video any pertinent structures like a detached garage or tool shed. We all know how expensive rakes, shovels, lawn mowers and bicycles are to replace — document them. Open the workbench drawers to document the individual hand tools, shop glasses and power tools inside. Then move inside the home and go room by room, closet by closet, drawer by drawer. If you have a loss, the first thing the insurance company will ask you for is an itemized inventory of the damaged or lost items. You do not want the pressure and anxiety of having to recreate this list from memory during such a stressful period. Archive your video inventory and save it in a safe place. You’ll be happy you did. 

At M. Miller and Son, we take pride in helping every client after a serious property loss, receive rightful compensation according to the fullest extent of their insurance policies. In most cases, we are able to negotiate higher settlements for our clients than they could on their own. Our team of experts will give you personalized attention to successfully resolve your residential or business insurance claim. Put M. Miller and Sonto work for you. We stand by your side.