This week, May 16-22, is National Hurricane Awareness Week, and Georgia Insurance Commissioner John Oxendine is reminding Georgians that they should check their homeowners policy annually to be sure they have adequate coverage.
Hurricane season is June 1 through Nov. 30, with September the month when the powerful storms are statistically most likely to occur.
“Our coastal residents face the most danger if a hurricane strikes, and the only way to ensure their safety is to evacuate,” Oxendine said. “However, even citizens who live further inland face the hazards of strong winds, heavy rain and inland flooding. To protect your home and other property from the financial impact of destructive storms, a homeowners policy tailored to your particular needs is your best
Oxendine suggested that homeowners (and renters) discuss their insurance needs with a reputable insurance agent. One important factor to consider is whether they want actual cash value coverage or replacement cost coverage. With actual cash value, they will receive only the current value of an item when they file a claim. In other words,
they’ll get only “used” prices for your furniture, TV, etc. With replacement cost coverage, their claim amount will be enough to purchase new items.
Oxendine advised residents that once they have insurance, make a list of their covered items, such as furniture,electronics, and other valuables. A photographic or videotape record is a good idea.
Keep copies of the list or photos in a safe place outside the home, such as a safe deposit box. An accurate record of one’s possessions will be invaluable if they need to file a claim with their insurance company. Keep auto and homeowners policy numbers, and the agent’s phone number, in a safe place as well.
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