Consumer Alert: National Preparedness Month
As National Preparedness Month comes to a close, Commissioner Miller is
reminding consumers to review homeowners and renters insurance policies to be
aware of any limitations in their coverage.
With a few weeks remaining in the Atlantic hurricane season, areas
throughout Pennsylvania could experience periods of heavy rainfall, resulting
in flooding. It is important to remember that damage from flooding is not
covered by a homeowners or renters insurance policy.
Flood insurance can be purchased through the NationalFlood Insurance Program (NFIP), private insurers licensed in Pennsylvania,
and licensed agents who can discuss surplus lines.
When purchasing flood insurance, make sure that you are aware of the type of
coverage you need, as some policies cover your dwelling (the physical structure
of your home), and some cover the contents (your personal belongings).
The National Association of Insurance Commissioners (NAIC)
recommends that homeowners insure their property at replacement value rather
than actual cash value, as the replacement value will not be affected by
depreciation. It is a good idea to keep a home inventory, which can make filing an
insurance claim for storm damage easier. Taking photos and keeping receipts of
expensive items is also helpful.
Renters should be aware that as tenants, their personal property is most
likely not covered by a landlord’s insurance policy. Talk to your landlord
about the type(s) of coverage they have. If you live in an area of high risk
for flooding (whether or not your landlord has flood insurance), you may want
to consider purchasing additional flood coverage, as your landlord’s flood
insurance policy would not likely cover the contents (i.e. your belongings) if
they have one.
More information is available on our homeowners, renters and flood insurance pages. If you have any
questions, you can contact the department at 1-877-881-6388.
For free preparedness resources such as a
plans, and instructional videos, visit www.ReadyPA.org. Follow @ReadyPA on Twitter and like the
ReadyPA Facebook Page for additional
helpful tips and information.