Insurance Advice Offered For Hurricane Lili Damage Recovery

Contact: Press Offices
(212) 346-5500 - New York
(202) 833-1580 - Wash DC

NEW YORK, OCT. 3, 2002 -- Standard business and homeowners policies will cover wind damage from Hurricane Lili, according to the Insurance Information Institute (I.I.I.)

However, such policies do not cover damage from flooding. Flood damage is covered under policies written by the National Flood Insurance Program or by "Write-Your-Own" insurers.

The I.I.I. offers the following suggestions if your property has been damaged:

• Be prepared to give your agent or insurance representative a description of the damage. Your agent will report the loss to your insurance company or to a qualified adjuster who will contact you as soon as possible to inspect the damage. Be sure to give your agent a telephone number where you can be reached.
• Take photos of the damaged areas. These will help you with the claims process and will assist the adjuster in the investigation.
• Prepare a detailed inventory of all damaged or destroyed personal property. Be sure to make two copies - one for yourself and one for the adjuster. Your list should be as complete as possible including a description of the items, dates of purchase or approximate age, cost at time of purchase and estimated replacement cost.
• Collect canceled checks, invoices, receipts or other papers that will assist the adjuster in obtaining the value of the destroyed property.
• Make whatever temporary repairs you can. Cover broken windows, damaged roofs and walls to prevent further destruction. Save receipts for supplies and materials you purchase. Your insurance company will reimburse you for reasonable expenses in making temporary repairs.
• Secure a detailed estimate for permanent repairs to your home from a reliable contractor and give it to the adjuster. The estimate should contain the proposed repairs, repair costs and replacement prices.

Serious losses will be given priority. Losses will be adjusted and claims paid as quickly as possible but hardship cases are usually handled first. If your home has been destroyed or seriously damaged, your agent will do everything possible to assure you are given priority.

Consumers with claim filing questions can contact the National Insurance Consumer Helpline at 800-942-4242. The Insurance Information Institute has also prepared a free brochure, Settling An Insurance Claim After A Disaster. Consumers can get a copy by sending a self-addressed, stamped envelope to the Insurance Information Institute, 110 William Street, New York, NY, 10038 or by accessing I.I.I.'s web site at http://www.iii.org.