Good morning, Facebookers! Just posting a few tips for you homeowners and landlords out there. Fire season is far from over - here are a few ideas and information to keep in mind....As dry conditions persist and fires continue to burn all around us, it’s a good time to take some precautions and make a plan or two for any future fires! This wildfire season is rapidly proving to be a devastating one. Unfortunately, when it comes to insurance, what you have at the time of a fire is, well, many times all that you have. When I say that, I mean to remind everyone that most times, changes cannot be made to your homeowner’s policy during a fire; nor can a new fire policy be started during a fire. It’s similar to flood conditions…I cannot write a flood policy for a customer during the flood(In fact, in most cases there could be up to a 30 day wait before it can become effective). It’s a bit different for fire insurance. As agents, most times our hands are tied during the wildfire/catastrophe in the sense that the companies we represent will not allow us to issue new policies in an area where a wildfire is burning (they will gauge it by zip code or based on a certain radius – i.e.: anywhere within a 60 mile radius of the burning fire). A moratorium, or freeze, is placed on new business until the companies are satisfied that such wildfires are under adequate control and containment. Because of this, it is essential that residents and homeowners prepare before the disaster hits. Be proactive and take steps to develop a family evacuation plan and talk with your insurance company to make sure you have enough insurance to rebuild and replace your belongings. There are simple steps homeowners and renters can take now to be financially prepared for wildfires. For starters, maybe take some time to make a home inventory. The best way to start doing this – or in addition to written inventory – is to take photos. I personally take photos of each wall in each room in my home. After a fire it is difficult to remember all your possessions. I recommend that you take your smart phone or video camera and walk through your house recording each room. Don’t forget to open drawers and closets or record what is in the garages/shops/sheds. Once you’ve done that, then send a copy of the video/photos to a friend or your insurance agent, keep a copy in a bank deposit box, or now…with all of this fantastic online ‘cloud’ options you could even store a copy in your online ‘cloud’, right?! That way you have a copy off premises that will be safe and accessible in the event of a fire or other loss at your home. 1. Conduct a yearly review of your insurance policy and limits: This will help to ensure you are adequately insured and better able to weather a catastrophic loss. To help you determine how much coverage you may want, check with local builders for the current costs associated with building new homes. In addition to this, ask your insurance agent to run a Replacement Cost Estimate on your home just to give you one more tool to assist you in determining the adequate amount of insurance you should carry on your home. If you have to increase coverage on your policy to better reflect the value of your home, be sure to ask your agent or insurer about higher deductible options as well as any discounts available. Most insurers offer discounts for smoke alarms, sprinklers and security systems. If you are evacuated by a fire, insurers may be able to assist policyholders with paying for expenses such as temporary housing and eating in restaurants if their property is determined to be uninhabitable due to the fire. Additional living expenses coverage can help homeowners and renters with the increase over normal living expenses. 2. Talk with your insurance company or agent about additional coverage such as flood or earthquake insurance. The standard homeowner’s policy DOES NOT COVER losses that result from floods or earthquakes. 3. Consider things you can do to reduce damage to your property: Clear debris in rain gutters, trim trees ten feet from home. Create 100 feet of defensible space around your home – more if available. Many insurers that I personally work with are requiring 200’ up to 500’ of clearance! I know….many times we just don’t have the ability to do so because it runs into the neighbors’ property! Make sure driveways allow fire equipment to get in and around your property with as much ease as possible. 4. Harden up your home! Homes with wood or shingle roofs are at high risk of being destroyed during a wildfire. Build your roof or re-roof with materials such as composition, metal or tile. Block any spaces between roof decking and covering to prevent embers from catching. Eaves and soffits should be protected with ignition-resistant or non-combustible materials. Mesh my not be enough to stop flying embers. Install dual-paned windows with one pane of tempered glass to reduce chance of breakage in a fire. 5. Update your insurance after home improvements. If you do home improvements or construction, don’t forget to update your policy! If you replace tile or countertops or add a room to your home, be sure to call you agent or insurance company to update your insurance.
Posted on: Mon, 11 Aug 2014 18:26:44 +0000
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