As we approach the peak of Hurricane season, it is important that we understand how to better protect our assets. Damage to your home and surrounding areas during a storm are inevitable but what can you do to help reduce the exposure of your high value personal property and/or make the claims experience a good one? A little bit of organization and due diligence can go a long way in protecting your personal property and make for a much more efficient claims experience should the need for a claim arise.
To help prevent a loss during hurricane season or make sure a claim on your personal property goes smoothly we suggest the following strategies and best practices to help safeguard your possessions:
- Regular review- You should meet with your agent at least once per year to make sure that your policies are up to date and are ready to respond if and when a storm approaches.
- Update your inventory- Keep a comprehensive list of your possessions and update it regularly in order to receive fair compensation. It is advisable to keep any important documents in a safe deposit box.
- Make sure you have flood coverage- Many people are under the impression that flood insurance is covered by their homeowners or windstorm policy. That is not the case and the only way to get flood coverage is to make sure you have a proper primary and excess flood policy in place.
- Video walkthrough- We suggest that you take a video walkthrough of your home or condo showing all the rooms and what contents are inside of each room. Include a dated newspaper in the video to verify the date the video was taken. This and any receipts you have will go a long way in making sure the claim goes smoothly and in your favor.
- Take advantage of carrier provided services- Some luxury carriers offer a complete array of services that are meant to help you protect your most valuable assets. These include services such as, pre and post hurricane assessments, onsite evaluations, as well as fine art retrieval and removal services should damage occur. Some offer vulnerability assessments which will provide useful information regarding the placement, protection, and maintenance of high value art.
- Storage facilities- If you are uncomfortable or unsure about leaving certain high value items in your home during a storm, there are storage facilities that cater to high priced valuables such as cars, jewelry, and fine art. Some of these are category 5 hurricane rated so you can rest assured that your valuables will be protected when the wind blows or the water rises.
When choosing a trusted insurance advisor, make sure they understand your complex needs and the perils that come along with owning high valued possessions. Are you prepared?
For more information, please contact:
Chad Rustici
AVP - Seitlin Private Client Services
Tel: 954.267.8574
Email: crustici@seitlin.com
