Insurance experts advise homeowners on insurance policy review
Expert from the Nebraska Department of Insurance gives guidance on navigating policy details and ensuring adequate protection after devastation in Nebraska and Iowa.
Expert from the Nebraska Department of Insurance gives guidance on navigating policy details and ensuring adequate protection after devastation in Nebraska and Iowa.
Expert from the Nebraska Department of Insurance gives guidance on navigating policy details and ensuring adequate protection after devastation in Nebraska and Iowa.
Several devastating tornado outbreaks across Nebraska and Iowa have left a trail of destruction, with numerous homes and vehicles damaged or destroyed.
Many people face the hardship of assessing the damage to their homes and vehicles. Despite this headache, one pressing concern for these families is insurance coverage.
Experts said people who have sustained property damage should contact insurance providers to initiate the claims process for damaged homes or vehicles.
However, if people have not sustained damage to their homes, they should be prepared for another natural disaster.
John Koenig works for the Nebraska Department of Insurance. He said people should contact their insurance company to determine what they will and will not cover.
"They should check their policy and make sure they understand their coverage. Again, they can contact their insurance agent and sell the policy; they should also be able to assist them with their coverages," Koenig said.
The Nebraska Department of Insurance underscores the significance of understanding policy details, particularly the declaration page, which provides a comprehensive coverage overview.
Individuals are encouraged to examine their policies' critical aspects, including coverage limits, deductibles, and specific wind and hail damage provisions. By gaining clarity on coverages, Koenig said policyholders can make informed decisions and ensure they have the protection they want against potential risks.
Insurance professionals stress that knowledge is the most potent tool in navigating insurance coverage effectively. Koenig said by familiarizing themselves with the guidelines of their insurance plans, individuals can safeguard their assets.
Another common mistake that Koenig pointed out for homeowners is that many people believe that their home and renters insurance includes flood insurance when, in most cases, this must be separate from their homeowner's insurance.
"Groundwater is considered flood water. So that would be covered by a flood policy for water," Koenig said. "If it's from inside the home, like a leaking pipe, that would generally be covered under your homeowner's policy, but groundwater would not."
In the aftermath of a destructive tornado outbreak, insurance expertise emerges as a beacon of guidance for affected individuals. Whether filing claims for damaged property or reviewing policies for comprehensive coverage, proactive steps can help alleviate uncertainty and pave the way for recovery.