Lt. Governor Francis Offers Tips to Make Disaster Recovery Easier
Lieutenant Governor Gregory R. Francis is reminding Virgin Islanders to maintain their hurricane readiness by reviewing their insurance coverage and taking those steps to make any necessary claim filing easier.
“It’s important that residents continue to be vigilant in protecting their homes and personal property, particularly as the territory enters the peak of the 2011 hurricane season,” stated Lt. Governor Francis. Francis, who serves as the territory’s Commissioner of Insurance, recommends that residents do the following before a storm as part of their ongoing preparation efforts:
• Review your insurance policy and make sure you know what is and is not covered.
• Flood damage is not covered by standard homeowners or renter’s insurance policy; flood insurance must be purchased separately.
• Create a home inventory and take photographs of your home and personal property. E-mail this information to family or friends outside of the hurricane threatened area or your insurance agent. Store copies of this document in a waterproof, fireproof box or safe.
• Store copies of your standard insurance policy, flood insurance policy and contact information for your insurance company or agent with your home inventory. If you must evacuate your home, don’t forget to take these documents with you.
In the days following a natural disaster, Francis advises residents to focus on filing their insurance claims as quickly as possible to help protect their financial future. He suggests the following:
• Contact your insurance company or agent with your policy number and other relevant information. Be aware that your policy might require that you make this notification within a certain time frame.
• Document property damage by taking photos/video before clean up or repairs.
• Make any repairs necessary to prevent further damage to your property (i.e., cover broken windows or leaking roofs), but do not make permanent repairs until your insurance company has inspected the property and you have reached an agreement to the cost of repairs.
• Be prepared to provide the claims adjuster with records of any improvements made prior to the damage. Save all receipts, including those from the temporary repairs.
• Protect yourself from home repair fraud by getting more than one bid from contractors. Consumers should also ask for proof of necessary licenses, insurance and bonding.
• Be certain to give your insurance company all the information they need. Incorrect or incomplete information may cause a delay in processing your claim.
• If there is a disagreement about the claim, ask the company for the specific language in the policy in question and determine why you and the company interpret your policy differently.
Lt. Governor Francis reminds policy holders that they have the ability to negotiate if the first offer made by their insurance company does not meet their expectations. Persons who believe that they are being treated unfairly by their insurance companies or need additional assistance, should contact the Division of Banking and Insurance at (340)774-7166 or 773-6459.
