PCI Offers Post-Gustav Insurance Recovery Tips

Two days after Hurricane Gustav made landfall in Louisiana, public officials and local authorities are focused on restoring power, clearing roads, ensuring public safety and addressing other emergency activities. The storm forced the largest evacuation of the Louisiana coast in history and many residents in Mississippi and Louisiana will be away from their homes for several days. 
 
At this point, while many residents and insurers are unable to access large areas affected by the storm, it is impossible to accurately estimate the size of the total loss, the insured portion of that loss, and/or the number of policyholders that will file claims as a result of Gustav. 
 
However, in advance of the storm, insurers positioned their catastrophe teams in staging locations near the perimeter of the most affected zones. The catastrophe teams are prepared to help residents begin the recovery process as soon as they are allowed access to damaged areas. Insurers have also reached out to secure additional claims adjusters from outside of the region to assist in handling the expected large volume of claims. 
 
“Helping residents begin the recovery process as quickly as possible is the insurance industry’s highest priority,” said David Sampson, CEO and president of the Property Casualty Insurers Association of America. “We encourage residents to report claims to their insurer as soon as it is safe to return to their homes and businesses and assess the damage. Following a catastrophe such as Gustav, a key ingredient in helping to ensure your insurance claim goes smoothly is good communications between insurers and policyholders. This is the time for consumers and insurers to work together to minimize the inconvenience and frustration associated with the recovery process.” 
 
PCI offers the following tips to help those salvage their homes or businesses and minimize further damage that has resulted from a hurricane. 
 
First and foremost, if holes have been torn in your roof or your windows are broken, be sure to cover them as quickly as possible so that wind and rain don't cause further damage. Keep all receipts for anything you buy for that purpose so you can submit them to your insurance company later. 
 
Report all damage to your insurance company or agent as soon as you can. To settle your claim more quickly and accurately, it will help if you have as much information as possible about your damaged possessions when your insurance adjuster comes to look at your property. 
 
Make a list of damaged items. If possible, put together a set of records, such as receipts, bills and photographs, to establish the age of everything that needs to be replaced or repaired. Identify the structural damage to your home and make a list of everything you would like to show the adjuster. 
 
Don't throw out damaged furniture or other expensive items. The adjuster will want to see them. It also is a good idea to take photographs of the damage before you start cleaning it up. 
 
About PCI 
 
PCI is composed of more than 1,000 member companies, representing the broadest cross-section of insurers of any national trade association. PCI members write over $195 billion in annual premium, 39.8 percent of the nation’s property casualty insurance.

Source: Source: PCI Press Release | Published on September 4, 2008