SCC to Virginians: Be prepared for upcoming hurricane season

The Atlantic hurricane season starts today, and the State Corporation Commission’s Bureau of Insurance encourages Virginians to be prepared.

The bureau recommends that you review your insurance policies to make sure you have the coverage you need if a hurricane or any natural disaster occurs.

“Protect yourself physically and financially before the waters start to churn,” said Virginia Insurance Commissioner Scott A. White. “Review your insurance policies and understand what is and is not covered.”

Hurricane season runs from June 1 through November 30 each year. It is difficult to secure insurance after a storm develops, according to the bureau.

While not all of Virginia is on the coast, it is still possible for areas throughout Virginia to experience flooding or wind damage.

The bureau offers the following reminders:

• Homeowners, renters and commercial insurance policies issued in Virginia typically do not cover damage caused by floods, surface water or storm surges. The federal government sells insurance for direct flood and flood-related damage to homeowners, renters and businesses in eligible communities through its National Flood Insurance Program (NFIP). In most cases, there is a 30-day waiting period for a new flood insurance policy to take effect.
• Some private insurers also offer flood policies, so check with your insurance agent about the availability of a private flood insurance policy. In either case, ask whether your flood policy covers your personal property.
• Some homeowners policies require a special deductible for wind or hurricane losses. These deductibles are applied separately from any other deductible on the homeowners policy. Additionally, these deductibles may be written as a flat amount, such as $1,000, or they may be applied to the loss as a percentage of the insurance coverage on the dwelling. Remember that the deductible is the amount that you must pay before the insurance company pays its portion of a claim.
• If your property is damaged by a hurricane, contact your insurance agent or company as soon as possible. Make any necessary emergency repairs, and take reasonable steps to prevent further damage to your property. Make a list of all damage to your property and include photographs, notes and repair-related receipts.
• Prepare a complete inventory of your personal property now, including photographs, videos and serial numbers. The National Association of Insurance Commissioners (NAIC) offers a free smartphone app – NAIC Home Inventory – to facilitate this process. The app is available through the App Store and Google Play.
• Keep your insurance policies and home inventory together in a safe place.
• If you must evacuate, know the name of your insurance company, and take your homeowners, auto and other insurance policies and your home inventory with you or make sure you have saved these important documents electronically. The policies will contain your policy numbers and the phone numbers of your insurance companies in case you have questions or need to file a claim.

For additional emergency preparedness information relating to hurricanes and other types of disasters and hazards, visit vaemergency.gov.

Story by Crystal Abbe Graham