Hurricane Sandy Demonstrates the Need for Flood Insurance

 Home Insurance  Comments Off on Hurricane Sandy Demonstrates the Need for Flood Insurance
Oct 312012
 

From fallen trees to flooding, Hurricane Sandy left many homes a disastrous mess. Fortunately, most Rhode Island homes were left unscathed, but the near miss should highlight the importance of flood insurance.

A typical homeowner’s policy covers water damage that starts from inside the home, or from a hole in the roof. However, if water touches the surface of the ground and then enters the home, a standard homeowner’s policy will not help because it is then considered ground water flooding.

Unlike most types of policies, flood insurance won’t go into effect the moment you buy it because there is a 30-day waiting period. So, it is wise to think about purchasing it now, in advance of the next storm.

If you’re wondering about your home’s flood risk, visit floodsmart.gov to determine the risk before you buy.

Should your risk be judged moderate to low, it is still a wise investment to purchase flood insurance because 25 percent of claims come from low- to moderate-risk areas.

If you do decide to purchase flood insurance, it typically comes with a $500 deductible, and your premium will depend on the location of your house.

For more information about flood insurance, or if you have questions about filing a claim due to Hurricane Sandy, please contact Soucy Insurance at (401) 762-2218.

Important Information from Progressive Insurance

 Auto Insurance  Comments Off on Important Information from Progressive Insurance
Oct 112012
 

Progressive Insurance recently informed their agents of important information regarding airbags that they learned from the U.S. DOT. Learn more from Progressive’s message below.

USDOT Warns of Faulty Airbags

Yesterday evening we learned from the U.S. Department of Transportation that they are warning the public about a major concern involving the purchase and installation of a significant number of potentially faulty air bags by independent repairshops around the country. The DOT will announce a process for the public to follow to determine if their vehicle may be at risk. That process may involve questions for insurers who paid claims for air bag replacements.

As one of many insurance carriers across the country who use independent repair shops for customer claims, we’re committed to helping our agents and their customers resolve questions and concerns regarding the safety of their air bags. If your customers think their vehicle may be affected, they can contact our customer call center at 877-856-2850.

Please note that the DOT estimates less than one tenth of one percent of all vehicles may be affected, and they have narrowed the incident window down to within the last three years.