AUSTIN, TX – August 31, 2008 – (RealEstateRama) — With Tropical Storm Gustav threatening the U.S. Gulf Coast, it’s time for residents and homeowners to make preparations in the event of a loss. There are several simple steps you can take now to protect your property and ease the process if you have to file an insurance claim after the storm. The Texas Department of Insurance (TDI) offers these tips:
It’s Not Too Late to Create a Home Inventory
If you suffer a loss, it’s important to have a complete list of the belongings in your home. Make an inventory that includes as much detail about your property as possible, including the brand name, price, date of purchase, model, and serial number for each item. Attach sales receipts if you can. A simple-to-use home inventory checklist can be downloaded from the TDI website at http://www.tdi.state.tx.us/consumer/index.html.
If you don’t have time to create a comprehensive list of the items in your home, then quickly videotape or photograph every room using a digital or disposable camera. The more detail you include, the easier it will be for your insurance company to evaluate your loss. Make sure to open drawers and closets, and don’t forget to take stock of what’s in your garage and storage buildings.
Mail or e-mail your home inventory, photos and videos to yourself, and to family or friends living out of the hurricane threat. If you evacuate or choose to leave your home for safety, make sure to take the inventory and photos with you.
Collect Your Insurance Information
Store copies of your insurance policies with your home inventory. Make sure to have a copy of your policy declarations page listing all of your coverages, as well as your insurance cards, including your health insurance cards. Before the storm hits, review your insurance policies. Make sure you know what is and is not covered. If you have questions, call your insurance agent or company.
Remember, flood damage is not covered by a standard homeowners or renter’s insurance policy. Also, coastal residents may have a separate policy for wind coverage through the Texas Windstorm Insurance Association (TWIA). If you have a separate policy for flood or wind, remember to include a copy of the policy and the contact details for the insurance company on your list.
Prepare for the Worst
There are steps you can take to help mitigate some of the damage caused by a hurricane or tropical storm. If your home is equipped with storm shutters, make sure you can quickly put them in place. Clear your yard of debris that could become projectiles in high winds and trim dead or overhanging branches from trees surrounding your home. Make a quick review of your home to make sure the roof sheathing is properly secured, that end gables are securely fastened to the rest of the roof, and that external doors and garage doors are properly secured.
For personal safety, learn where storm shelters in your area are located and prepare an evacuation plan for your family. Also, make sure you have a hurricane survival kit that includes bottled water, a first aid kit, flashlights, a battery-operated radio, at least three days of non-perishable food items, blankets, clothing, prescription drugs, eyeglasses, personal hygiene supplies and enough cash for at least three days.
If you are forced to evacuate your home, turn off all utilities and disconnect appliances to reduce the chance of additional damage and electrical shock when utilities are restored.
Determine whether your policy covers additional living expenses (ALE) for a temporary residence if you are unable to live in your home because of damage from a disaster.
Review Your Auto Insurance
State law requires all drivers to maintain liability insurance, which pays for injuries and damages you cause to other people and their cars. Liability coverage does not pay for any type of damage to your own vehicle, however. You will need to purchase additional coverage, known as “comprehensive” or “damage other than collision” coverage to protect your vehicle from damage caused by hail, flood, fire, or theft.
More Information
For more information about how to prepare your family and home for the threat of tropical storms or hurricanes, visit TDI’s hurricane preparation resource website at: http://www.tdi.state.tx.us/consumer/hurricane.html, or the American Red Cross’ Hurricane Preparation website: (www.redcross.org/services/prepare/0,1082,0_253_,00.html).
Consumers may also get help by calling TDI’s Consumer Help Line toll-free at 1-800-252-3439 for assistance in both English and Spanish. Insurance specialists are available on the Help Line Monday through Friday, 8 a.m. to 7 p.m., Saturdays 10 a.m. to 7 p.m., and Sundays 1 p.m. to 7 p.m. Please note that on Monday, September 1 (Labor Day), Help Line hours will be 10 a.m. to 7 p.m.
