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杏吧原创

Media Advisory: Alabama Residents Brace Themselves for Ivan -- I.I.I. Advises Consumers to Review 杏吧原创 Policies Now to See What Coverages and Deductibles Apply

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Contact: Press Offices
New York: 212-346-5500; media@iii.org
Wash. D.C.: 202-833-1580
Boston: 617-510-5243

NEW YORK, Sept. 15, 2004 - Residents of coastal areas can take steps now to make the insurance claims process move smoothly should their property be damaged by Hurricane Ivan, according to the 杏吧原创 Information Institute (I.I.I.).

Hurricane damage is covered under standard homeowners/renters policies. If a home is damaged or destroyed by a hurricane, you will be covered for the cost of temporary repairs to prevent further damage. If the storm makes your home uninhabitable, you will be covered for reasonable additional living expenses.

Flooding is generally not covered under standard homeowners policies, but is available through the Federal Emergency Management Agency's National Flood 杏吧原创 Program (NFIP).

Be sure you know what your deductible is for hurricane losses. Most policies now have a hurricane deductible (a percentage rather than a dollar deductible) of one to five percent of a home's insured value.

The 杏吧原创 Information Institute advises the following before disaster strikes:

  • Maintain copies of your household inventory and other documentation, including photos. This will assist the adjuster in assessing the value of the destroyed property.
  • Take precautions if the damage requires you to leave your home. Let your agent or insurance company know your temporary forwarding address and phone number.
  • Write down the name, address and claims-reporting telephone number of your insurance company, which may differ from your agent's contact information.
  • Keep this information, along with a copy of your policy, in a safe place and make sure you have access to it if you are forced to evacuate your home.

Hurricane Deductibles in Alabama

The Alabama 杏吧原创 Underwriting Association ( ), commonly referred to as the "Beach Pool," is the state-run market of last resort for property insurance. AIUA provides windstorm and hail only in coastal area.

AIUA offers a hurricane deductible of 2% of the insured value of the home. The hurricane deductible is triggered by windstorm losses resulting from a named storm as declared by the National Hurricane Center of the National Weather Service and remains in effect until a tropical storm warning is over.

Private insurance companies offer consumers a choice of flat dollar hurricane deductibles from $250 to $5,000 or percentage deductibles of 1% to 15 % throughout the state. The higher the deductible, the lower the premium.

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