Dealing With Insurance Companies After Hurricane Sandy
BOSTON (CBS) – Early estimates suggest Hurricane Sandy will cost insurance companies between 5 and 10 billion dollars. That would make it the 5th worst natural disaster in terms of insurance claims.
WBZ NewsRadio 1030′s Jeff Brown reports
Phil Edmundson is CEO of William Gallagher Associates, New England’s largest independent broker. His tips for filing a claim:
- Make sure you make your premises safe
- Take a lot of pictures of the damage
- Document everything
Edmundson says homeowners should be aware of the types of things covered and not covered. He says if a tree falls on a person’s house, usually the damage and cleanup is covered. But if a tree just falls in that person’s backyard, the homeowner usually has to pay for removal out of pocket.
Edmundson says there’s a lot of misunderstanding about what is covered when it comes to water damage. He says water damage caused by wind and rain from a hurricane is usually covered. Flooding because a homeowner lives near an ocean or lake, or because of sewer backup, frequently is not covered under a homeowner’s policy.
Edmundson says he knows homeowners don’t want to hear it, but the cost of insurance frequently goes up in the following year after a claim is made.