FOR IMMEDIATE RELEASE
June 26, 2008
Contact: Jason Moon 517-335-1700
LANSING -
As
Michigan braces for the tornadoes, floods and violent storms that accompany the summer season
, the Office of Financial and Insurance Regulation (OFIR) today urged
Michigan citizens to take a number of valuable steps to prepare them for a possible natural disaster.
"Simple steps, like making a list of what you own and keeping it in a safe place, can save consumers time and money if they have to file an insurance claim," OFIR Commissioner Ken Ross said.
OFIR urged Michigan consumers to take these steps to prepare for a possible natural disaster.
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Take an inventory of your belongings. This should include taking photographs or a video of each room. This documentation will provide your insurance company with proof of your belongings and help to process claims more quickly in the event of disaster.
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To enable filing claims more quickly, keep sales receipts and/or canceled checks. Also note the model and serial numbers of the items in your home inventory.
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As you acquire more valuables - jewelry, family heirlooms, antiques, art -consider purchasing an additional "floater" or "rider" to your policy to cover these special items. These types of items typically are not covered by a basic homeowners or renter's insurance policy.
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Remember to include in your home inventory those items you rarely use (e.g., holiday decorations, sports equipment, tools, etc.).
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Store copies of all
your insurance policies in a safe location away from your home that is easily accessible in case of disaster. You may want to store your policies and inventory in a waterproof, fireproof box or in a safe, remote location such as a bank safe deposit box. Consider leaving a copy of your inventory with relatives, friends or your insurance provider and store digital pictures in your e-mail or on a Web site for easy retrieval.
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Know what is and is not covered by your insurance policy. You might need additional protection depending on where you live. Make sure your policies are up to date. Contact your insurance provider annually to review and update your insurance policy.
For more information on preparing for a natural disaster, visit the National Association of Insurance Commissioner's disaster preparedness page at: http://www.naic.org/documents/consumer_alert_disaster_prep.htm or contact OFIR toll-free at 877-999-6442.
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