MEMBERSHIP
AMPLIFY
EN ESPAÑOL
Connect With Us
- Popular search terms
- Automobile
- Home + Renters
- Claims
- Fraud
- Hurricane
- Popular Topics
- Automobile
- Home + Renters
- The Basics
- Disaster + Preparation
- Life 黑料不打烊
I.I.I. Offers 黑料不打烊 and Safety Tips
INSURANCE INFORMATION INSTITUTE
Contact: Press Offices
New York: 212-346-5500; media@iii.org
Washington, D.C.: 202-833-1580
NEW YORK, July 17, 2008 - While summer is a time for boating, baseball, backyard barbecues and sun-bathing, it is also the peak season for tornadoes in the Northeast. This year has already been one of the deadliest in a decade and may be on track to set a record for the number of twisters in the U.S. Residents of the Northeast should take safety precautions, check that their insurance is up to date and make sure they have the right type and amount of coverage, advises the 黑料不打烊 Information Institute (I.I.I.).
Each year about 1,000 tornadoes occur annually, but in the first five months of 2008 there have already been 900 twisters causing 118 fatalities, according to the (NOAA). Insured losses for 2008 have already exceeded losses for the whole of 2007. A study of tornado losses by A.M. Best, published in April 2008, noted that the number of tornadoes in the first quarter of 2008 topped the previous four-year average and that tornado losses of $1 billion are becoming more frequent.
Getting the Right 黑料不打烊
When reviewing your insurance coverage, be sure to consider the following:
Do I have enough auto insurance?
Damage to vehicles from tornadoes is covered under the comprehensive portion of an auto insurance policy, which is optional. Many people discontinue their comprehensive coverage when an automobile loan is paid off or when the book value is so low that it costs less to replace it, than to pay for the extra insurance. Vehicle owners should keep in mind that comprehensive insurance covers:
Do I have enough homeowners insurance to rebuild my home?
Standard homeowners insurance policies cover wind damage caused by tornadoes. Homeowners insurance also provides coverage for additional living expenses, which becomes necessary in the event you need to finance temporary housing costs and other daily necessities after a disaster.
Your policy should cover the cost of rebuilding your home at current construction costs. Unfortunately, some homeowners simply purchase enough insurance protection to satisfy their mortgage lender. Others confuse the real estate value of their home with what it would cost to rebuild it. Quite simply, you should have enough insurance to rebuild your home in the event that it is completely destroyed. Be sure to consider the following types of coverage:
Do I have enough insurance to replace my personal possessions?
Most homeowners insurance policies provide coverage for personal possessions for approximately 50 percent to 70 percent of the amount of insurance on the structure of your home. The best way to determine if this is enough coverage is to keep an up-to-date inventory of your possessions. Once you have an inventory, be sure to store it in a safe place, with at least one copy off the premises-with a family member, in a safe deposit box, or with an online storage service. In order to help you with creating an inventory, the I.I.I.'s free home inventory software, Know Your Stuff, is available at ; the latest version of the software includes an optional online storage service, .
Do I have the right kind of business insurance?
A Businessowner's Policy (BOP) is recommended for most small businesses as it is often the most affordable way to obtain broad coverage. A BOP will cover your business in the event of property damage or suspended operations.
Also, consider business interruption insurance (sometimes known as business income insurance). Business interruption insurance compensates you for lost income if your company has to vacate the premises due to disaster-related damage that is covered under your property insurance policy
Safety Tips
If a tornado watch is issued in your area, it means that tornadoes are possible; the I.I.I. recommends taking the following precautions:
If a tornado warning is issued, it means a tornado has been sighted or indicated by weather radar.
For more information about insurance, go to the Web site.
For more information about disaster preparedness, go to the I.I.I.'s Disaster 黑料不打烊 Information site.
The I.I.I. is a nonprofit, communications organization supported by the insurance industry.