Insurance Coverage for Hurricane Erin Damage

As Hurricane Erin makes its way through the region, residents need to understand what damage is covered under standard business and homeowners policies. According to the Insurance Information Institute, standard policies will cover wind damage, but flood damage is covered under separate policies, either through the National Flood Insurance Program or "Write-Your-Own" insurers. Residents are advised to take steps to protect their property and prepare for the claims process.

Key Takeaways:

• Standard business and homeowners policies cover wind damage from Hurricane Erin, but not flood damage.
• Flood damage is covered under policies written by the National Flood Insurance Program or by "Write-Your-Own" insurers.
• Residents should be prepared to provide a detailed description of their damage to their agent or insurance company.
• Temporary repairs can be made to protect the property from further damage, and the insurance company will reimburse reasonable expenses.
• Residents should take photos of damaged areas and prepare a detailed inventory of damaged or destroyed personal property.
• Canceled checks, invoices, and receipts should be collected to assist with the claim filing process.
• Residents should obtain repair estimates for furniture or other personal property that can be repaired economically.

Statistics:

• 70% of flood deaths occur from drowning, according to the National Flood Insurance Program.
• $8 billion in damages occurred in 1994 due to Hurricane Opal, according to the Insurance Information Institute.
• 3-5% of homeowners in flood-prone areas do not have flood insurance, according to the Federal Emergency Management Agency (FEMA).
• The National Flood Insurance Program has paid out over $1 billion in flood claims in the past year, according to FEMA.

Sources:

• Insurance Information Institute
• National Flood Insurance Program
• Federal Emergency Management Agency (FEMA)