Consumer Alert: Five insurance tips for storm damage
Division of Insurance can help with insurance and claims questions
DENVER - Many Coloradans woke up Friday morning to the aftermath of severe storms and damage to their homes and property. These events were only the latest reminder of the damage severe storms can bring.The Colorado Division of Insurance (DOI), part of the Department of Regulatory Agencies (DORA), encourages consumers to “Take 5 to Get Wise” when handling insurance, claims and repairs in the wake of storm damage.
Five Tips for Dealing with Storm Damage and Insurance
With heavy rains and other severe weather more likely in the warmer months, now is the time to consider flood insurance. Many homeowners do not realize that their basic homeowners insurance does not include protection from flood damage. Flood insurance must be purchased as a separate policy.
The Federal Emergency Management Agency (FEMA) administers the National Flood Insurance Program (NFIP), a federally subsidized program available to any property owner – homeowners, renters, condominium owners and associations - whether or not the property is in floodplain. National Flood Insurance is sold through a private insurance agent selling it to a community that has joined NFIP. Contact your insurance agent about buying flood insurance. If you do not have an agent or your agent does not sell flood insurance, contact the NFIP at 1-888-379-9531 or go to www.floodsmart.gov to get the name of an agent in your area.
Typically, there is a 30-day waiting period, after applying and paying the first premium, for the insurance to become effective.
For more information, visit the Colorado Division of Insurance flood insurance webpage or the FEMA / NFIP website www.floodsmart.gov.
Before any disaster strikes, consumers should recognize the value in creating a home inventory. An inventory helps consumers in determining what’s been lost and in working with their insurance company. DOI has developed a Home Inventory Checklist for download that is a good starting point.
In addition, the National Association of Insurance Commissioners (NAIC) has created a smartphone app to help homeowners and renters develop a Home Inventory Checklist. Find information on the app at www.naic.org, under the “Consumer Resources” tab.
Insurance Tips for Storm Damage
Many of us received heavy rains and hail this weekend, potentially causing damage to roofs, cars, etc. If you experienced damage to your property during the recent storms, the Colorado Division of Insurance has issued the following tips which you may find beneficial.
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