IN RECENT NEWS
On today’s episode of the Butch and Bob Show on Big Dog Country station in Georgia, one of our most experienced and valued policyholder advocates, Caitlyn Milligan discusses the restoration efforts following Hurricane Helene.
On today’s episode of the Butch and Bob Show on Big Dog Country station in Georgia, one of our most experienced and valued policyholder advocates, Caitlyn Milligan discusses the restoration efforts following Hurricane Helene.
Hurricanes are unpredictable and destructive forces of nature, wreaking havoc on homes, infrastructure, and the lives of many. When a hurricane hits, access to critical services may be severely limited or nonexistent. That’s why being fully prepared is essential—not only to get you through the storm but also to manage the potentially dangerous aftermath. Let’s break down the must-have hurricane survival supplies that could make all the difference—plus, the potential consequences if you find yourself unprepared.
What happens if you’re not ready? The consequences of under-preparing for a hurricane aren’t just inconvenient—they can be life-threatening.
Don’t forget to stock extra supplies if you’re responsible for elderly family members, small children, or pets. They’ll have specific needs, and those are easy to overlook when you’re rushing to prepare.
Want to be really ready? Download our full Hurricane Preparedness Checklist and make sure you’re covered before the storm strikes.
The destruction after a hurricane can be immense and overwhelming. And despite the aftermath of a hurricane, the last thing you want is for your property to suffer more damage. Your insurance policy will also mandate for you to mitigate further damages. We’ll discuss your duty as a policyholder to mitigate further damages, options for mitigation, and how mitigation factors into your insurance claim.
Your insurance policy mandates that you take reasonable steps to protect your property from additional damage post-hurricane. The language will vary in each policy, but the overall objective is the same— protect your property from further damage.
Check your insurance policy for detailed guidelines on what actions you should take after your property suffers hurricane damage. Complying with your policy terms will be crucial in your claims process.
Keep records of all costs you incur while taking steps to prevent further damage to your property. These records serve as proof of expenses when you file your insurance claim.
We recommend seeking the advice and assistance of a professional after a hurricane, as the damages can be quite extensive and overwhelming. A professional will inspect your damages, provide an estimate, and perform the mitigation for you. In severe damage cases, a specialty mitigation company may be required to tend to more complex mitigation requirements.
Mitigation costs can be a burden under your insurance policy. It’s crucial not to compromise on mitigation efforts because inadequate protection could result in mold, mildew, and additional structural damage that may not be covered by your insurance. We recommend reviewing your policy ahead of time to understand the required level of mitigation and ensure you’re prepared before a hurricane occurs. You can have a complimentary policy review by our legal team here!
According to your insurance policy, your insurance carrier expects you to take reasonable steps to protect your damaged property from further harm. In most cases, the costs of these actions can be reimbursed under your policy.
However, costly methods like shrink wrapping, which temporarily secures a tarp on your roof, may complicate cost recovery. During a hurricane, appropriate alternatives, supplies, and mitigation services could be scarce for a prolonged period. It’s crucial to communicate with your insurance carrier to avoid paying out of pocket for mitigation. During your preparation for the hurricane, we recommend having a list of mitigation companies that you can quickly deploy to your property to inspect following the storm
Failing to mitigate could reduce your final settlement or lead to a claim denial. Just as it’s essential to document your property before and immediately after a storm, documenting the mitigation process is equally vital.
Promptly mitigating further damages after a hurricane protects your property and can strengthen your insurance claim. Premier Claims is dedicated to guiding policyholders through every step of the recovery process.
Severe weather events, such as hailstorms, have become increasingly more common and devastating in recent years. As we enter an era where the cost of insured losses from severe storms continues to rise, it becomes crucial for property owners to act promptly after a date of loss. Get ready to explore the significance of taking immediate action in the wake of extreme weather like this year’s hail storms, gain insights on the rising costs of storm damage, and discover valuable guidance on protecting your property.
When faced with property damage caused by hail or other severe weather, time is of the essence. Acting promptly allows you to:
Hailstorms have had a significant financial impact, with insured losses skyrocketing in recent decades. Gallagher Re, a reinsurance firm, reports insured losses from hail exceeding $10 billion since 2008. In 2023 alone, insured losses from severe convective storms are projected to surpass $30 billion. With the growing number of severe weather events, it’s crucial to be proactive in protecting your property and securing the necessary coverage.
To safeguard your property and ensure a smooth claims process, consider the following steps:
Acting promptly after a date of loss is essential to protect your property and ensure a smooth claims process. With the increasing costs of severe weather events, it’s crucial to be proactive in securing the necessary coverage and taking immediate steps to mitigate further damage. By documenting the damage, reporting the loss promptly, and seeking assistance from a Public Adjuster, you can navigate the claims process with confidence.
Remember, time is of the essence when it comes to protecting your property from severe weather-related losses. Act promptly, protect your investment, and fight for the coverage you deserve. If you have any questions, please reach out to our team today.
Vandalism – a term that, unfortunately, is all too familiar to commercial property owners. Acts of intentional damage can bring about significant financial consequences. But understanding the different forms of vandalism can go a long way in minimizing their impact. From a sociological perspective, vandalism isn’t a monolithic concept. It assumes various forms, each presenting its unique challenges. Understanding the motives behind these destructive acts, as outlined by renowned sociologist Stanley Cohen, can guide you in better protecting your property and minimizing your financial risk. Let’s explore these seven types of vandalism and see how commercial property owners can stay prepared:
Acquisitive vandalism, characterized by the act of destruction to acquire goods or money, poses a significant threat to businesses. For instance, a burglar might break a window to steal merchandise. As a property owner, installing secure locks, surveillance cameras, and alarm systems can deter such actions. Insurance policies covering theft are critical in this scenario.
Tactical vandalism is about getting noticed. Protestors might deface property to draw attention to their cause. While it’s tough to predict such occurrences, maintaining a neutral stance in controversial matters can keep your property out of the firing line. Vandalism coverage in your property insurance policy can provide the needed safety net.
This form of vandalism arises when political, religious, or social ideologies come about. Insurance that covers acts of vandalism can safeguard your property against the financial impact of such acts.
Vindictive vandalism stems from personal vendetta and spite, and can unexpectedly land at your doorstep. Making adequate security measures and a robust insurance policy are essential.
Play vandalism is destruction for fun, often by kids or teenagers. For instance, ensuring your property is well-lit and investing in high-quality security systems can make it less attractive to these mischievous thrill-seekers. Furthermore, a comprehensive insurance policy will help cover the costs of any damages.
Malicious vandalism lacks concrete motive beyond the desire to create chaos. An individual who lights a fire in a public park with no particular motive other than to watch things burn would be engaging in malicious vandalism. Enhanced security, vigilance, and insurance coverage are necessary to shield your business from such random acts.
Epidemic vandalism involves large-scale destruction triggered by a specific event like a sports victory or political unrest. Here, the best defense lies in a good offense. Proactive security measures, along with an insurance policy that covers riot damage, are essential.
Understanding the seven types of vandalism not only provides insight into the potential risks but also guides you in selecting the right insurance coverage to protect your business assets. This knowledge empowers commercial property owners to minimize their financial risk and safeguard their businesses against unforeseen damages. Remember, the cost of an insurance policy is insignificant compared to the financial burden of an unexpected vandalism event.
Protect your business, prepare for the future, and ensure peace of mind by recognizing and preparing for these seven faces of vandalism.
As hurricane-prone regions brace themselves for another potentially intense season, recent news about insurance carriers making policy changes has raised concerns among policyholders. In a surprising move, Farmers Insurance is no longer serving Florida policyholders, leaving thousands of residents in search of new coverage options. This decision serves as a stark reminder of the importance of reviewing your insurance policy before hurricane season arrives.
“Florida requires affected policyholders to receive a 120-day notice that their policies aren’t being renewed,” Ramishah Maruf, CNN. According to the state’s regulations, this provision ensures that homeowners have ample time to prepare and seek alternative coverage options before their existing policies expire. The non-renewals will play out over several months.
Farmers Insurance explained its decision to exit the Florida market as a necessary step to manage its risk exposure in the hurricane-prone state. While “Farmers is the 11th company to pull out of Florida since 2019. Farmers’ decision affects more than 100,000 customers,” Dave Elias, NBC. Individuals utilizing Farmers Insurance’s owned subsidiaries, such as Foremost Signature and Bristol West, will not experience any disruption in coverage. It is crucial for policyholders affected policyholders by the termination to review notifications and explore replacement coverage options.
Farmers Insurance’s departure highlights the challenges faced by insurance companies operating in Florida. Over the past 18 months, numerous insurers have imposed moratoriums on new policies, while others have voluntarily withdrawn from the market or faced insolvency. The situation is exacerbated by a legal system that some insurers claim encourages litigation abuse and excessive claims, leading to financial strain within the industry.
Recognizing the need for change, the insurance industry successfully advocated for reforms aimed at curbing litigation abuse. Despite these efforts, insurers’ outlook remains uncertain due to the surge in lawsuits filed before the new laws kicked in. Nearly 300,000 lawsuits have flooded the marketplace, creating an enduring challenge that may force regional insurance companies out of business. While legal reforms have been implemented, market conditions continue to pose a significant challenge.
Florida’s geographical location and low elevation make it particularly susceptible to hurricane damage. As the Atlantic hurricane season approaches, it is crucial for homeowners to assess their insurance coverage adequately. The National Oceanic and Atmospheric Administration predicts a normal hurricane season this year, but there is still a 30% chance of an above-average season. The devastating impact of hurricanes in recent years, such as Hurricane Ian, which caused $114 billion in damage, serves as a stark reminder of the importance of being prepared.
Reviewing your insurance policy before hurricane season is crucial to ensure you have the necessary coverage and avoid potential disruptions. Farmers Insurance’s decision to exit the Florida market is a reminder for property owners to stay vigilant. By staying informed and considering replacement options if needed to protect your property during hurricane season. Remember, being proactive can make all the difference when it comes to safeguarding your property against potential storm-related risks.
In light of Farmers Insurance no longer serving Florida policyholders, Premier Claims understands the concerns and challenges faced by policyholders. With hurricane season approaching, it’s crucial to have the right coverage for your home and belongings. We recommend a third-party expert review of your policy. If you’re a Farmers Insurance policyholder, explore new coverage options well before your policy expiration date.
A new law, signifying a significant development for policyholders in Louisiana, has passed, forbidding property insurance policies from containing provisions that deny an insured individual’s right to hire a public adjuster. Before the introduction of this new law, insurance policies with anti-public adjuster clauses prevented policyholders from hiring a public adjuster. The legislation aims to provide all policyholders and businesses with greater control and expertise in navigating insurance claims.
On June 12, 2023, Louisiana Governor John Bel Edwards signed into law a bill from Sen. Royce Duplessis, D-New Orleans, and Rep. Ray Garafalo, R-Chalmette, that prohibits insurance carriers from inserting anti-public adjuster clauses into property insurance policies. The new law (SB156) in Louisiana will take effect on August 1, 2023, and allow all policyholders to hire public adjusters.
Removing the anti-public adjuster clauses is a significant win for policyholders in Louisiana. Here are some key benefits that policyholders can expect:
Licensed professionals with in-depth knowledge of insurance policies and claims processes, public adjusters actively operate. They can assess the full extent of damages, and strive for fair compensation per the policy.
Navigating an insurance claim can be a complex and time-consuming process. By engaging a public adjuster, policyholders can offload the burden of handling paperwork, documentation, and negotiations. This allows them to focus on other important aspects of recovery, such as restoring their property or business.
Public adjusters skillfully value losses accurately and ensure fair compensation for policyholders. They can help policyholders avoid potential underpayments or claim denials, leading to maximized settlements.
While the new law in Louisiana enables policyholders to hire public adjusters, it’s important to understand the existing rules and regulations governing their operations. Here are some key points to note:
Public adjusters in Louisiana are required to obtain a license from the Louisiana Department of Insurance (LDI). Additionally, the licensing process involves meeting certain criteria, including background checks and the successful completion of an examination.
Public adjusters charge fees for their services, typically calculated as a percentage of the insurance claim settlement. In Louisiana, these fees are regulated and should conform to state guidelines. Policyholders should discuss fee arrangements with the public adjuster before signing any contract.
Public adjusters must provide written contracts to policyholders, outlining the terms and conditions of their services. The contract must clearly state the fees, scope of work, and any additional expenses that policyholders may incur during the claims process.
Public adjusters are prohibited from participating in any deceptive or fraudulent practices. Furthermore, they have a fiduciary responsibility, must act ethically and in the best interests of the policyholders they represent. Violations of these regulations can lead to disciplinary actions by the LDI.
Louisiana’s new law granting policyholders the ability to hire public adjusters is a significant step toward empowering individuals and businesses when dealing with insurance claims. With the expertise and representation provided by public adjusters, policyholders can expect a smoother and more favorable claims experience. By leveraging this new legislation, policyholders can navigate the complexities of the insurance world with confidence, knowing they have dedicated professionals on their side.
Premier Claims Louisiana #765044
Knowing how to identify hail damage and the signs can save you time, money, and a lot of headaches.
Our expert team has put together an invaluable video guide that walks you through the process of how to identify hail damage on your property. From common indicators to safety precautions and essential tools, this video is a must-watch for anyone concerned about the integrity of their property following a hailstorm. Don’t miss out on these expert insights—watch now to protect your investment!
For more articles related to hail damage, check out the following:
The Impact of Hail: Understanding Size, Formation, and Damage
Importance of Acting Promptly After a Date of Loss
The post-recovery after a hurricane can be a challenging and stressful experience. Understanding damage assessment, contacts, and expectations post-hurricane as a local resident can ease recovery burdens significantly.
Prior to the storm, we recommend following a detailed checklist, having your property inspected, and accurately documenting the current condition of the property. (Read Prepare before the storm, Review Your Policy, Tips & Dangers or Mitigation for more information)
After the storm has passed, your responsibility as a policyholder will be to assess the damages to your property and mitigate further damage. We recommend inspecting the exterior of your property looking for any broken or loose materials. In addition, inspect the interior of your property for water leakage or pooling water. Early connection, detailed documentation of damage, and mitigation strategies are vital for your insurance claim process.
In regards to property damage after a hurricane, there is a significant need for mitigation professionals, inspectors, and contractors in the community. Insurance carriers will also experience an increase in call volume and claims coming in from the community. Prior to the storm, we advise having a list of important contact information including your insurance carrier, mitigation companies, contractors, government authorities, medical assistance during a disaster, and your local Red Cross.
Our team is readily available during a hurricane. In the aftermath of the storm, we take over the communication, scheduling, and coordination with your insurance carrier, inspectors, mitigation companies, and contractors. We take the burden of handling the devastating damage from the hurricane so you can have a full focus on your family, health & safety following the storm.
As a resident, you can expect the recovery process to take time. The immediate aftermath of a hurricane can be chaotic and challenging, often requiring a great deal of patience and persistence. Communities will come together to overcome the struggles of power outages, limited access to food and water, as well as the extensive damage to homes, businesses, and natural resources.
Keep informed about the latest updates and instructions from location authorities to help you navigate the recovery process. The days and weeks following a hurricane may result in delays of power recovery and availability of essential services. It’s important to be prepared to live without essential services for a period of time, and to come together as a community to support one another as you navigate the recovery from the hurricane’s impact.