As the East Coast wakes this morning to storm damage, flooding and
continued warnings, and thoughts will start to turn from survival to
recovery. Insurance and flood insurance claims will form a key part of
that recovery.
One of the most striking things about this storm is the locations at
risk. We’re not used to seeing Manhattan in then sights of a hurricane.
If you’re in one of those locations, you’re probably not used to making
flood insurance claims. It might not be the first thing on your mind as
you assess the devastation, but there are some important insurance
issues to think about in the aftermath of a disaster.
Catalogue the Damage
As you look around your flood-soaked home, or look for your
flood-transported car this is an easy step to forget. But that could be a
costly mistake. It’s important to record all of the damage, both in
images and in writing. When you make a claim, you will be asked to give
details above and beyond stating that your home was flooded, providing
your insurance provider with a list of damage will be really helpful in
processing your claim. An adjuster will make the final call, but an
illustrated list will make sure that nothing is missed.
Report Everything
It’s important that you report every piece of damage to your insurance
provider. The main type of damage will be flood related, but that
doesn’t mean that flooding caused all of the damage. Even if you don’t
have flood insurance, you should assess your damage and contact your
provider or agent. Most property policies exclude flood damage, but they
do provide coverage for storm damage. Your claims adjuster will decide
which damage constitutes a flood insurance claim and which can be made
through your standard policy. The only way to know for sure is to report
the damage.
Report Straight Away
With any insurance claim, it’s important to report the damage straight
away. With so much damage caused by Sandy, insurance companies will be
backed up trying to deal with flood insurance claims. That doesn’t mean
you should wait to report damage. Get your report in as soon as you can,
then get ready to wait your turn with an adjuster.
Clean Up
Like the movie scene where the stab victim is told to leave the knife in
to prevent further bleeding, people often advise you to leave damage
property until an adjuster sees it. This could be a big mistake with
flood damage. Water doesn’t stop damaging property once it’s washed over
it, it soaks in, creates mold and affects structural integrity. Leaving
the damage could actually make it worse. You don’t need to wait for the
adjuster; once you have your records and photographs, you need to start
the cleanup.
Flood insurance claims may be the furthest thing from your mind right
now. It may be something you just don’t want to think about. But you
can’t afford to forget it.
Anthony W. Charles BS, MBA, CWCA - President
acharles@scsinsuranceinc.com
Anthony
Charles attended Southern Connecticut State University where he
attained a Bachelor’s degree. He continued his education at New York
University where he completed his Master’s degree in management and
finance. Anthony started his insurance career with a national insurance
carrier in operations and investments. He moved to the retail brokerage
business in 1981 and became a partner in the firm in 1991. With more
than 30 years of risk management and owner operator experience he brings
a unique consultative approach to our clients.
