Residents of the US Gulf Coast region are particularly wary of insurance issues after recent hurricane seasons have proven to be more destructive than usual.They are more careful about warnings, evacuations, protecting homes, and other issues that may have been overlooked ten years ago.
However, while many adjustments have been made, it seems that hurricane insurance is something that people either do not understand or simply forget about as hurricane season approaches. Here are some tips to help you make decisions about what’s the best way to protect your home and other valuable assets.
Tip 1: Review your policies carefully
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If you currently have hurricane insurance, pull out your policy and read it over carefully. If there are terms you do not understand, call your agent and ask these questions until you get the answers you need. When it comes to legal documents such as insurance policies, it is never a good idea to assume things or take something for granted – make sure that issues of concern are explicitly stated in your policy.
Some things to keep in mind when looking over your documents:
- Any changes in the last year. Have you added to your assets or purchased a new television? Make sure that those are added to your policy and that anything you have sold or gotten rid of is taken off. Removing things may lower your premium and adding new assets ensures these will also be covered.
- What is and is not covered in the policy. Is there a limit on your clothing? Do you need a separate policy for jewelry or antiques? Don’t wait until something happens to answer these questions – it will be too late to fix them then.
Tip 2: Consider flood insurance
Most homeowners’ policies cover wind damage – an important component when it comes to protecting your home from tropical storms – but not flood damage. For example, the policy will cover damage due to wind and damage that occurs because water was able to enter as a result of wind damage, but this does not mean that all water damage that can occur in a hurricane will be covered. Talk to your agent about flood insurance and remember that flood insurance goes into effect thirty days after the policy is created and paid for, making it extremely important to address this as soon as possible.
Tip 3: Go digital with important documents
Most people know that they should keep their important documents, including insurance policies, in a safe place, but after seeing the damage from storms like Katrina, Rita and Gustav, it can be hard to decide where the appropriate safe place would be. The internet offers a great option for storing documents because you can keep a scanned copy online, which will be accessible from anywhere if you need it. You may want to keep important phone numbers online as well in case you lose your cell phone or cannot access your written records.
If you need legal help regarding insurance law matters on the Gulf Coast, contact the New Orleans attorneys at Greenberg and LaPeyronnie today. Their team of lawyers has extensive experience in Louisiana law and strong ties to the community, which means you can rely on them when dealing with tough issues.
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