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

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