Water's Receeding

Every hurricane is different and Isaac is no exception. Although a minimal storm, Isaac’ storm surge still over topped levies in Louisiana and caused wide spread flooding in areas where the levies were not over topped. Also, tornadoes and straight line winds caused some significant structural damage, but overall Isaac will be remembered as a flood event and not a wind event. 

Flood presents its own challenges though. First, flood damage is not covered by homeowners policies and it doesn’t matter whether the flooding arose from water driven by wind or simply an accumulation of rain. If you have a flood policy, you needn’t worry because you’re covered: right? Well yes and no. Yes you are covered, but coverage can be very restrictive, particularly for damages that are below the base flood elevation (BFE). Also, decks, fencing, other structures also have coverage limitations. Now is the time to break out your flood policy and read it. Don’t have a copy? Go to http://www.fema.gov/national-flood-insurance-program and download the latest copy of the Flood Insurance Manual.

Pay particular attention to the time limit in which to file a proof of loss. The standard time frame is 60 days, but for catastrophes it is usually extended by the NFIP. Your flood adjuster does not have the authority to extend the time limit for the filing of a proof of loss so make sure you get one in on or before the time limit.

Bill

Taking a Pounding

New Orleans and surrounding areas continue to take a pounding from Hurricane Isaac. While the winds from Isaac are not going to cause catastrophic damage, the cumulative effect of winds over hours is going to result in some damage. What is likely going to be the significance of Isaac is the water. This is a slow moving storm and is dumping lots of rain over a widespread area. It is inevitable that the water will begin to accumulate.  If you are hunkering down and observe water accumulating around your home, take whatever steps you can to protect your property and if water is beginning to enter your property, turn off the power.  

If you are able to safely do so, photographically document the water both inside and outside your home. When the water subsides take a tape measure and photographically document the flood line both inside and outside your home. Take whatever steps you need to protect and preserve your property bearing in mind that if you are going to make an insurance claim, the insurance adjuster needs to have the opportunity to inspect the damages. Remember flood is not covered under your homeowner’s policy; you must have a flood policy. However, if you don’t have a flood policy you may be entitled to a tax write off for the damage. Check with your accountant for the rules on this.

Regardless of whether you are making an insurance claim or planning on taking a tax write off, be sure to photographically document the damage to your property. If you’re making an insurance claim don’t throw anything away until the adjuster has seen it and concurs that it should be thrown away.

Good luck on your loss and if I can answer any questions for you, please do not hesitate to ask.

Bill

Flood and Water

It looks like South Florida has dodged the hurricane bullet again. While I am out of town for this event and missed it altogether, I understand from friends it was not that bad…. a lot of rain, but not much wind.  Rain however can cause significant damage. This is particularly true if it results in widespread flooding. Many homeowners are surprised to find that flood is not covered by their insurance policy. That’s true. You need to purchase flood insurance before flood is covered.  If you have flood insurance you should be in good shape.

However, tropical systems can down trees and deluges that accompany them can also pour in through leaky roofs or through broken windows causing substantial damage. If this has happened to you, when you report your claim to the insurance company, don’t tell them your house is flooded. Flood in an insurance policy has a specific meaning (a general inundation of a normally dry area over an area of 2 or more acres). If you tell the insurance company your house is flooded from the storm, they may mistakenly presume you mean flood when you really mean damaged by water from a leaky roof or broken window.  In so misconstruing your report they may deny your claim without even bothering to inspect the damage. 

Many areas have experienced power outages. Regardless of whether your home is damaged by flood or water pouring through a hole in your roof, you should be aware of electricity. When the power is restored, there is always the danger of electrocution. So be safe in Isaac and be careful of electrical lines in and outside your home.

Remember, you can find information on how to make an insurance claim at www.BenefitBill.com

Bill

Issac

Florida is once again in the cone of uncertainty with Isaac and no doubt the drum beat of fear will start to intensify the closer to certainty we get. But in the meantime in the words or Bob Marley “don’t worry, be happy” and in the words of Benefit Bill™ “take pictures”. One of the smartest things you can do is to take a complete set of photos of your house showing its undamaged condition. That way you have proof positive documentation should someone (insert insurance adjuster or insurance expert here) disagree with you after the storm. 

But don’t stop with shots of your home; take photographs of your closets and your open drawers to document your personal stuff as well. And then, most importantly, put your photographs on the cloud so if your camera is damaged you haven’t lost your evidence. I practice what I preach by the way. I keep my company files on the cloud where they are safe and backed up. If a storm hits I may be without access for a few days, but I won’t lose anything.

If Isaac becomes a significant threat remember to protect you and your family first. The truly important things can’t be replaced. You can get a tv or computer anytime, it’s hard to replace a spouse or a child or the family pet or you for that matter. And keep in mind that it doesn’t take a major storm to create a dangerous condition so be safe.

If your home or business is damaged you’re going to be faced with making an insurance claim. While the insurance company will send a task adjuster out to inspect your property and prepare an estimate of the damages, chances are it will be insufficient to effect repairs. No the insurance company is not trying to rip you off, rebuild prices vary widely following a storm and getting an accurate price is next to impossible. Just remember, if you want more than the insurance company is willing to pay, you must be able to prove it. www.BenefitBill.com offers lots of free advice to help you in this regard. Be sure to check it out.

Bill

I'm Back!!!

It’s been a while since I have posted to this blog. During the hiatus I have rethought Benefit Bill™ and changed it from a site that sold my book to one that provides information to homeowners and business owners in need of information about the claims process. If you’ve been to the site, then you note that all the information is provided free of charge. You’ll also note that each page comes with its own downloadable workbook so that anyone in need can compile the workbooks into their own “claims manual” to assist them in making their insurance claim.

The other thing you’ll notice is that the site is far from complete. I have been working on this in my spare time (we all have to make a living J) and try to add at least one workbook per week. The vid’s take longer and I am behind.  When it’s all done, if it’s ever all done, I want the site to be a resource for anyone needing quality information.  

Some of my public adjuster friends are outraged at the site and have accused me of trying to destroy their business. The way I see it is this: people who are going to use public adjusters are going to use them without regard to information they may run across on the web. This site provides a service to policyholders in need. And, I believe no one should be forced to use a public adjuster because they lack knowledge about the claims business. So I will continue to disagree with my associates about the effect of this site on their business. 

I am always looking for ideas and subject matter so if there is a question on your mind, please let me know.

Bill

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