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Winter-Related Damage Causes More than a Billion Dollars in Losses Each Year

INSURANCE INFORMATION INSTITUTE
Contact: Press Offices
New York: 212-346-5500; media@iii.org
Washington, D.C.: 202-833-1580

NEW YORK, November 7, 2008 - Winter storms can wreak havoc on your home and account for a large percentage of homeowners insurance claims nationwide after hurricane season comes to a close each year on November 30. The time to winterproof your home is before the cold weather sets in, according to the ÐÓ°ÉÔ­´´ Information Institute (I.I.I.).

Catastrophic winter storms cause an average of $1.2 billion in insured damages each year in the U.S. Water damage and freezing account for about 20 percent of all homeowners insurance claims annually, while wind and hail account for close to 30 percent of total claims. The average homeowners claim for water damage and freezing is over $5,000, according to the I.I.I.

Many winter-related disasters can be prevented by taking a few simple steps to protect your home from snow, wind and freezing temperatures. "With the weather still relatively mild, autumn is the perfect time to winterproof your home," said Jeanne M. Salvatore, senior vice president and consumer spokesperson for the I.I.I.

The first step is to make sure your home and possessions are properly insured. "Standard homeowners policies cover winter related disasters such as burst pipes, ice dams and wind and hail damage, as well as property damages that are caused by the weight of ice or snow," noted Salvatore.

Winter damage to cars is covered under the comprehensive portion of an auto insurance policy, which is an optional coverage.

Property damage caused by flooding, however, is not covered under standard homeowners and renters insurance policies. Generally speaking, property losses caused by water that comes into the home from the ground up are covered under a separate flood insurance policy. This is available from the National Flood ÐÓ°ÉÔ­´´ Program and some private insurers. If, for instance, there is melting snow and rain that seeps into a house from the ground rather than from the roof, the resulting property damage would generally only be covered by a flood insurance policy. Flood insurance is available for both homeowners and renters.

For more information on homeowners insurance, go to the .

For related audio, go to I.I.I. Offers Checklist for Winterproofing Your Home.

For more information on flood insurance information, go to the .

For additional tips on winterproofing your home, as well as information on how to prepare your home if it is going to be vacant, go to the .

The I.I.I. is a nonprofit, communications organization supported by the insurance industry.