Thursday, May 30, 2013

Prepare for the Unexpected Disaster NOW


Preparedness is always key when facing a disaster.   Though the key challenge in Hampton Roads may be a hurricane, the challenges vary from forest fires, to tornados to earth quakes and beyond.

I am sure you have heard some of these tips in preparing for disaster.   Now is your chance to review and get prepared for the unlikely, the unimaginable such as seen in Oklahoma recently.

LESSONS TO LEARN FROM THE OKLAHOMA DISASTER.

Thanks to Al Clark

Topic Summary:  Learning From Oklahoma
Homeowners who are interviewed after wild fires, tornadoes, earthquakes and other natural disasters all had the same comment: "I wish I had an inventory of everything in my home".  The recent fires in California and the Oklahoma tornado should be a compelling event for all homeowners to compile an electronic inventory of all their possessions and home improvements either with video or text. Homeowners in Oklahoma are now faced with filling out forms from their insurance company trying to remember all they had, when they got it and what it cost. Hardly an easy requirement to get an insurance claim paid. To make your home inventory process easier the Insurance Information Institute, one of our content partners, has a free service called Know Your Stuff that we have been recommending for years. It's an easy to use system that will document and build a running database of all your household possessions. GET IT HERE FOR FREE


Hurricane Season Just Starting June 1st. With the sights of restoration on the Jersey shore being seen on TV, warnings are going up on the eastern seaboard that Hurricane season is coming up. The government forecasters are saying there will be13-20 storms this season with 7-11 turning into hurricanes and 3-6 that become major event hurricanes.
KIPLINGER's online has an updated resource for tips on how to prepare for Natural disasters. It can be found HERE

Insurance Coverage: When is Enough Not Enough? First, take the quiz on how well you know what's covered and what's not for most homeowners. It's ON THIS PAGE. http://www.kiplinger.com/quiz/insurance/T065-S001-are-you-covered/index.html
A recent survey by Allstate Insurance Company indicated that 45-55% of homeowners have either not enough coverage or the wrong types of insurance coverage.
As home values dropped in most parts of the country, consumer groups are warning homeowners not to insure on the value of your home but on the replacement value of the home. The two are very different. 

Home values go up and down all the time but what never goes down is the price to build a new home comparable to the one you have now. That is what is called replacement value. The cost of raw materials and labor continue to escalate so we caution you to ask your insurance carrier about the best way to insure to replacement value.  Most all of homes damaged in Oklahoma will be total losses, so protected homeowners would be assured they can rebuild.

Do-It-Yourself!  New online service: Accucoverage.com. This website can provide you with your home replacement value based on the same local conditions, costs and criteria an insurance company would use paying a claim. The service asks you a few questions and derives a value estimate with your zip code based cost structure. The fee for the service is $7.95.
Have you done any major home improvements recently? If so, tell your in

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