CORAGE YOU ND SHOULD A STORM CAUSED DA >>JENNIFER WAUGH: SO MANY OF
YOU MAY BE FILING CLAIMS WITH
YOUR INSURANCE CARRIER AFTER
DAMAGE CAUSED BY TROPICAL STORM
ELSA OR MAYBE YOU’RE ASKING
YOURSELF QUESTIONS ABOUT YOUR
EXISTING COVERAGE AFTER SEEING
WHAT HAPPENED TO YOUR
NEIGHBOR’S HOME
THIS WEEK. WE WANT TO HELP
ANSWER THOSE QUESTIONS AND
PREVENT YOU FROM MAKING AN
EXPENSIVE MISTAKE. SURE AREA BE
THREATENED BY ANOTHER STORM
THIS HURRICANE SEASON FINGERS
CROSSED THAT DOESN’T HAPPEN,
BUT YOU NEED TO
BE PREPARED. JOE CARLUCCI IS AN
INSURANCE AGENT WITH BRIGHT WAY
INSURANCE AND JOINS US THIS
MORNING, GOOD MORNING, THANKS
FOR BEING WITH US RENEE GOT TO
BE HERE SO FOR THOSE WHO HAVE
HAVE DAMAGE WHAT SHOULD THEY BE
DOING NOW.
>> SO FIRST TO FILE A CLAIM WORTH WE’RE ACTUALLY TIME A LOT OF PEOPLE JUST GO ONLINE TO
YOUR COMPANY’S WEB SITE BECAUSE
THAT CAN KIND OF GET YOU TO THE
FRONT OF THE LINE A LITTLE BIT
FASTER. VERSUS THE TRADITIONAL
WAY WHICH WOULD BE CALLING.
SO SUBMIT YOUR CLAIM
AND THEN TAKE A LOT OF PICTURES
GO AHEAD AND GET SOMEONE OUT TO
START DOING THE MITIGATION IF
IT’S WATER FITS
DAMAGE TO YOUR ROOF OR WHATEVER
YOU CAN GO AND GET SOMEONE OUT
THERE YOU DON’T HAVE
TO WAIT. FOR YOU NEED
COMPANY IN MOST OF THE
INSURANCE AGENT CAN RECOMMEND
SOMEBODY TO START THE WORK FOR
THAT AND IS THERE A PARTICULAR
STRATEGY THAT YOU KNOW
SUGGESTIONS THAT YOU MIGHT HAVE
TO KIND OF GET
THE MOST.
>> YOU KNOW THAT YOU CAN FOR
THE DAMAGE I WOULD SAY MAYBE
NOT THE MOST BUT THEM THE MOST
FAIR AMOUNT WOULD BE GET
MULTIPLE BIDS LIKE DON’T JUST
TAKE THE FIRST ONE THAT COMES
OUT BECAUSE PRICES ARE CRAZY
RIGHT NOW. I WOULD CALL
2 OR 3 CONTRACTORS IN ADDITION
TO THE ONE WHO MAY BE YOUR
INSURANCE 8 THE COMPANY
SENT OUT.
>>JENNIFER WAUGH: YES, A GOOD
POINT TOO BECAUSE YOU KNOW THE
CONTRACTORS ARE ALREADY REALLY
BUSY AND PRICES HAVE GONE UP
JUST BECAUSE OF THE HOUSING
INDUSTRY AND BUILDING RIGHT NOW
THE PRICE CHECK IT SO WHAT IF
SOMEONE WE CAN WE GET THIS A
LOT IN THE EYE ON THE I CALLS
AND EMAILS. WHAT IF YOU HAVE
DAMAGE TO
YOUR PROPERTY THAT WAS CAUSED
BY A TREE ON YOUR NEIGHBOR’S
PROPERTY. YEAH WE GET THAT ALL
THE TIME TOO. IT’S YOUR POLICY.
SO THE DAMAGE IS YOUR HOUSE, IT
IS
YOUR POLICY SO JUST BECAUSE
YOUR NEIGHBOR’S TREE THEIR
POLICY DOESN’T COVER YOUR HOUSE
SO FALLING OBJECTS TREE FALLS
ON YOUR HOUSE, IT’S
YOUR POLICY. AND WILL A
HOMEOWNERS POLICY OR IS IT CAR
INSURANCE WHAT IF YOU HAD LIKE
A LIMB THAT FELL ON YOUR CAR
CAR INSURANCE.
>>JENNIFER WAUGH: AND WHAT IF
SO AND I THINK THAT THIS IS
VERY VERY IMPORTANT BECAUSE WE
TALKED ABOUT THIS EVEN BEFORE
HURRICANE SEASON.
WOULD YOU EXPLAIN
HOMEOWNERS POLICIES AND WHAT
THEY DO AND DON’T COVER WHEN IT
COMES TO WIND DAMAGE AND ALSO
FLOODING DAMAGE.
OKAY.
>> THIS IS A VERY INTERESTING
KIND OF CASE STUDY THAT WE
TALKED ABOUT YESTERDAY BECAUSE
OF ALL
THE TORNADOES AND THAT WAS THE
FIRST TIME WE’VE SEEN LIKE THAT
MANY TORNADOES YOU THAT MUCH
DAMAGE. SO THE QUESTION WAS
DOES YOUR HURRICANE DEDUCTIBLE
APPLY. IF THE TORNADO WINDS DO
THE DAMAGE. AND WHAT WE’RE THINKING AS OF RIGHT NOW IS YES YOU HEARD BECAUSE THAT IS GOING
TO BE THE PROXIMATE CAUSE OF
THE TORNADO WAS CREATED BY AND
SO THEREFORE SO YOU WILL BE
WITH THE HURRICANE DEDUCTIBLE,
SO IT IS COVERED,
BUT IT’S UNNAMED HURRICANE
YOU’RE GOING TO HAVE TO HAVE
THAT HURRICANE DEDUCTIBLE KIND
OF BARRIER THRESHOLD NET.
>> MOVING ANYTHING YOU HAVE TO
PAY THE DEDUCTIBLE THAT
YOU HAVE.
>>JENNIFER WAUGH: ASSOCIATE
WITH YOUR HURRICANE NOT JUST
YOUR REGULAR
HOMEOWNERS POLICY.
>> RIGHT YOU JUST HAVE ONE
RIGHT EXACTLY SO HURRICANE
DEDUCTIBLES TYPICALLY MUCH
HIGHER MUCH LARGER SO THE
DAMAGE HAS TO BE A LITTLE BIT
MORE SUBSTANTIAL. BUT TO KICK
IN FOR IT TO KICK IN YOU KNOW
YOU IT HURRICANE COMES AND GOES
OVER
YOUR FENCE, NOT GOING TO BE
COVERED NOT GOING WANT TO FILE
A CLAIM WITH YOUR
LARGE DEDUCTIBLE FLOODING TO
YOU MOVING OVER TO THAT IS NOT
COVERED ON YOUR HOMEOWNERS
POLICY.
FLOODING MEANING GROUND WATER
COMING UP INTO THE HOUSE NOT
PLUMBING PLUMBING RELATED WATER
IS ON YOUR HOMEOWNERS IF A PIPE
BURST FOR EXAMPLE THAT
HOMEOWNERS PIPE BURST AND
USUALLY FLOODING COMES WITH
HURRICANES. BUT IT IS DOES NOT
HURRICANE DAMAGE THAT IS FLOOD
DAMAGE AND YOU HAVE TO HAVE A
SEPARATE POLICY ON FOR YOU TO
GET COVERAGE AND WHEN CAN YOU
WRITE HAVE THAT POLICY WRITTEN
SOMETIMES PEOPLE GET CONFUSED
WHILE THE TROPICAL STORM WAS
HERE PREVIOUSLY I CAN’T DO IT
NOW, BUT THAT’S NOT THE CASE
RIGHT SO THERE’S USUALLY A
BINDING RESTRICTION FOR NEW
POLICIES.
2 DAYS BEFORE ONE OR 2 DAYS
BEFORE AND USUALLY MAYBE ONE
DAY AFTER, BUT WE’RE THE
BINDING RESTRICTIONS LIFTED AT
THIS POINT WE CAN BUY NEW
POLICIES RIGHT NOW, WHICH MEANS
ISSUE COVERAGE. FOR HOMEOWNERS
AND FLOOD. FLOOD SOMETIMES HAS A 30 DAY WAITING PERIOD THROUGH FEMA’S PROGRAM.
SOME AGENTS HAVE
PRIVATE MARKET OPTIONS THAT
DON’T HAVE ANY WAITING PERIOD
OR MAYBE A SEVEN-DAY 14 DAY
WHICH IS A LOT MORE PALATABLE
JUST 30 A
LONG TIME.
>>LAUREN VERNO: DURING
HURRICANE SEASON. AND YET WE
DON’T KNOW WHEN THERE MIGHT BE
ANOTHER BUT BUT THE IMPORTANT
POINT HERE FLOOD INSURANCE
ISN’T VERY EXPENSIVE. NOW
GENERALLY IF YOU DON’T LIVE IN
A FLOOD ZONE, YOU COULD STILL
PROTECT YOURSELF.
>> YEAH, IF YOU’RE NOT IN A
FLOOD ZONE, IT’S LESS THAN $500
A YEAR 3, $400 A YEAR