Multiple states in the US have been hit by a series of deadly tornadoes over the last couple of days, leaving behind widespread damage to homes, businesses, and vehicles.
In response, insurers are acting as “financial first responders,” according to Sean Kevelighan, CEO of the Insurance Information Institute (Triple-I), helping policyholders receive the necessary assistance they need to start the recovery process.
“The widespread damage the US experienced in the past few days due to extreme tornado activity highlighted the importance of being financially protected from catastrophic losses by having the right types, and amounts, of insurance,” Kevelighan said.
According to Triple-I, the damage caused by tornadoes is covered under standard homeowners, renters, and business insurance policies, as well as the optional comprehensive portion of an auto insurance policy.
A separate statement from the American Property Casualty Insurance Association (APCIA) also noted that many standard homeowners’ and renters’ policies provide reimbursement of additional living expenses when the property is determined to be uninhabitable due to a covered loss.
Both organizations urged policyholders to contact their insurers and begin the claims process as soon as it is safe to do so.
“The first step to recovery after severe weather damages or destroys your property is to file a claim with your insurer,” said Hilary Segura, assistant vice president of state government relations and counsel for APCIA. “Once you have filed your claim, there are a number of things you can do to help expedite the recovery process such as photographing the damage and making an inventory of what was lost and damaged. Insurers are committed to serving their policyholders in their time of need by quickly reviewing every claim to pay for covered losses.”
APCIA also warned tornado victims of third parties seeking to involve themselves with the insurance claims and damage repair process, advising policyholders to carefully consider any proposals from contractors, public adjusters, and lawyers.
“Before signing any contracts, call your insurer first to report the damage and get your claim started,” Segura added. “Your insurer and agencies like Better Business Bureaus can help with recommendations on repair companies and contractors.”
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