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Lt. Governor Francis Encourages Insurance Readiness for Hurricane Season
Lieutenant Governor Gregory R. Francis is encouraging Virgin Islanders to practice “insurance readiness” as they prepare for the 2014 hurricane season. “Preparation is not complete without a review of your insurance coverage to ensure that you are adequately protected in the event of a hurricane or other emergency,” says Francis, who serves as the territory’s Commissioner of Insurance.
Francis says property owners should review their insurance policies annually as needs change over time and make any necessary adjustments to their coverage. “Improvements, major purchases and increased rebuilding costs can all affect your insurance needs,” he stated. “Knowing that you are covered in the event of an emergency not only completes hurricane preparation activities but helps to ensure peace of mind.”
Lt. Governor Francis recommends that residents do the following as part of their hurricane preparedness efforts:
• Review their policy to make sure they have the right type of coverage for their primary residence – whether it’s a house or a boat.
• Buy enough insurance to rebuild the home and replace all personal belongings;
• If renting, secure renter’s insurance to cover any losses of their personal property, since a landlord’s coverage may only cover the building.
• Take photographs of their home; and also photograph and inventory valuables and other personal property inside of the structure;
• Store important documents such as insurance policies, deeds, property records, etc. in a waterproof and fireproof container or at an off island location; and
• Evaluate their property and purchase flood insurance if needed.
For more information on disaster preparedness and to download a disaster inventory checklist, visit www.ltg.gov.vi.