Hurricane season starts June 1; SCC reminds Virginia residents to check their insurance options now

With hurricane season starting June 1, the State Corporation Commission’s (SCC) Bureau of Insurance reminds Virginians to consider their insurance options before the winds and rains arrive. This includes reviewing the details of your insurance policy to ensure you have the coverage you need.

Hurricane season runs from June 1 through Nov. 30 each year. Once a hurricane develops in the Atlantic, it will be difficult to find an insurance company willing to write related coverage until the storm threat passes, the SCC said in a news release.

No matter where you live in Virginia, hurricanes and their resulting flooding can threaten lives and property.  Virginia Insurance Commissioner Jacqueline K. Cunningham was quoted as saying, “Protect your family, home, and belongings by making sure you have adequate insurance coverage before the first hurricane starts to form. Know what your policy does and does not cover. Contact your insurance agent or company or the Bureau of Insurance if you have questions,” she said.

The Bureau of Insurance reminds Virginians that hurricane damage often comes from flooding as well as high winds. Even areas hundreds of miles from the coast are at risk. Homeowners insurance policies issued in Virginia typically do not provide coverage for damage to your home and belongings due to floods, surface water or surges.

However, the federal government does sell insurance for direct flood and flood-related damage to homeowners, renters and businesses in eligible communities through its National Flood Insurance Program (NFIP).

In most cases, there is a 30-day waiting period for a new flood insurance policy to take effect. For more information on this program, contact your insurance agent or the NFIP at 1-888-379-9531 or visit http://www.floodsmart.gov Be su.re to find out whether your flood policy provides coverage for your contents.

Some homeowners policies contain a special deductible for wind or hurricane losses. These are applied separately from any other deductible on the homeowners policy.

Some insurance companies automatically include a wind or hurricane deductible, while others offer this deductible at the policyholder’s option. Wind or hurricane deductibles may be written as a flat amount, such as $1,000, or they may be applied to the loss as a percentage of the insurance coverage on the dwelling.

The Bureau of Insurance encourages policyholders to prepare a complete inventory of their personal property ahead of time including serial numbers, photographs and videotapes.

The National Association of Insurance Commissioners’ free smartphone app – myHOME Scr.APP.book – makes creating a home inventory easier than ever. Download the app from iTunes or Google Play. Keep your home inventory in a safe place.

If your property is damaged by a hurricane, call your insurance agent or company as soon as possible. Make any necessary emergency repairs and take reasonable steps to prevent further damage to your property. Prepare a list of all damage to your property and include photographs, notes and repair-related receipts.

If you must evacuate, know the name of your insurance company and take your homeowners, auto and other insurance policies and your home inventory with you or make sure you have saved these important documents electronically. The policies will contain your policy numbers and the phone numbers of your insurance companies in case you have questions or need to file a claim.

The Bureau of Insurance offers free consumer guides for homeowners and commercial property owners with information about what to do when a disaster strikes. These and many other consumer insurance guides are available on the Bureau’s website at http://www.scc.virginia.gov/boi.

The Bureau’s specially trained staff can assist consumers with their insurance-related questions and concerns–not just flood insurance.

For more information, contact the Consumer Services Section of the Bureau’s Property and Casualty Division toll-free at 1-877-310-6560 or in Richmond at (804) 371-9185. The mailing address for the Bureau of Insurance is P.O. Box 1157, Richmond, Virginia 23218.

For additional emergency preparedness information relating to hurricanes and other types of disasters, visit http://www.ReadyVirginia.gov This .statewide public education effort is designed to prepare Virginians for all kinds of hazards.