Archive for the ‘tornado insurance’ Category

Alabama Still Tallying Insurance Claims from April 2011 Tornado

January 13th, 2012 by Iris | Comments Off | Filed in insurance news, insurance specialists, tornado insurance

The Birmingham News, reported recently that insurers have paid out at least $2.2 billion in claims from a tornado that struck last April 27th, and said there are still over 2,500 claims pending.

Those numbers are from the Alabama Department of Insurance, and include amounts that state-regulated insurance companies have paid for damage to businesses, cars, homes, and other property, but does not include any claims that were paid by insurers such as Lloyd’s of London that have policies in Alabama but are not subject to state regulation.

State authorities say that if every claim was resolved and tallied, the total would probably be near $3 billion, which, according to State Insurance Commissioner Jim Riding, falls within estimates his department has seen.

Missouri Enacts 2 New Insurance Laws

September 20th, 2011 by Iris | Comments Off | Filed in flood insurance, homeowners insurance, hurricane insurance, tornado insurance

Two new insurance laws went into effect last Friday in Missouri, both of which provide stronger protection for homeowners in the the Show-Me state.

The first law, Senate Bill 101, bars exterior repair contractors, like roofing and siding companies, from offering to cover a prospective client’s insurance deductible in order to make a sale, and also prohibits such companies from negotiating with insurance companies on an insured homeowner’s behalf.

The other law, Senate Bill 132, allows insurance companies to legally set up mobile service centers in storm-damaged areas, to make it easier for affected policyholders to file claims. Under the terms of this law, counties, cities, and other political subdivisions may not restrict insurers from establishing temporary operations. Previously, there were cases where cities and other municipalities wanted new business licenses before mobile service centers were allowed to operate after a weather-related disaster.

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Tornado After-care?

April 19th, 2011 by Iris | Comments Off | Filed in advice and how-tos, homeowners insurance, tornado insurance

If you live in the mid- or southwest, you’ve probably heard tornado sirens once too often. In fact, as I’m writing this, we’re under a tornado warning here in Texas. We’re not likely to see any damage in my neighborhood, but all across the country people have died in tornadoes in the last week. It’s pretty awful.

As with hurricanes, most of the damage from tornadoes is covered by your existing homeowners, condo, or rental insurance policies, and fall into the “windstorm” peril listed within. Hail is also specified in some policies, generally in regions where hailstorms are common. In addition wind and hail damage to your car is covered if you have a “comprehensive” policy.

So what should you do if you’re affected by such a storm? The Property Casualty Insurers of America (PCI) has this advice:

  • Call your insurance agent or insurance company immediately.
  • As soon as it’s safe to do so, inspect your home and cars for any damage.
  • Make a list of any missing or damaged items, and take pictures of damaged structures, vehicles or possessions. If you still have the original receipts for those items, find them.
  • Take steps to prevent further damage to your property, or to ward off possible thieves.
  • When dealing with repair contractors, run background checks. If necessary, you can ask your insurer for a recommendation.
  • Keep detailed records of anything you spend – from repair costs to emergency housing – until your home and/or auto are restored to normal conditions.

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Tornado Drills in Virginia

February 8th, 2011 by Iris | Comments Off | Filed in tornado insurance

Emergency management officials in Virginia are planning to hold a tornado drill across the state.

A joint effort between the National Weather Service and the Virginia Department of Emergency Management, the drill is scheduled for March 15, 2011 at 9:45 AM EST.

Representatives of the emergency management department feel that it is vital that citizens know what to do if a tornado warning is issued in their area. 62 tornadoes, they say, have struck Virginia in the last three years, causing nearly $48 million in damage and injuring more than 220 people.

Registration for the statewide drill and instructions for conducting a tornado drill of your own are available online, and the Department of Emergency Management website. Roughly half a million Virginians have already signed up.

Knowing what to do in a tornado is at least as important as knowing whether your homeowners insurance policy includes tornado coverage.

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