GT Insurance Blog

Insurance problems and cures

Insurance Losses from Spring Storms

leave a comment »

We were asked what were the majority of losses that were not covered after the March storms.
The wind related losses were generally covered. Business property and homes almost always (and we hope for our clients, always) have coverage for damage caused by wind and wind driven objects. Some homes had trees fall without damaging the house or blocking access. In that case, with most home coverage, there is little or no coverage. But damage to your home or a neighbors, and to some extent when access is blocked, should be covered.

A few of our clients did not have coverage for backup of sewer and drains. It doesn’t make us feel any better to know that we have offered it to every client; but not everyone takes it. Backup of sewer and drains coverage costs about $25 annually for every $5000 of coverage. It is designed for just what it says. And that is not covered by basic Homeowners insurance without adding the backup endorsement. Some idiot agent was on tv recently saying that all Homeowners policies covered backup. Not true. Some throw in a bit of coverage, most can be endorsed, but don’t count on it unless you know you bought it.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: