HURRICANE - Give them their due - even in 'normal' season

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(One of the Raleigh TV stations is doing a series on hurricane preparedness. Look for more reports.) Give Hurricanes Their Due - Even In 'Normal' Season
Commissioner Long Says Take Precautions Now

RALEIGH, 3:12 p.m. EDT June 22, 2001 -- Hurricane Season begins June 1, and despite calling for a normal season, forecasters caution residents about becoming too complacent about potential storms.

North Carolina Insurance Commissioner Jim Long reminds citizens that it's never too early to prepare for the worst.

"The devastation from recent hurricanes and floods is still very fresh in the memories of all North Carolinians. The lesson we should learn from these disasters is that taking precautions well before the threat of a major storm is a necessity," Long said. "Now is the time to review your insurance policies and speak to your agent about the proper coverage needed in the event of a disaster this season."

The National Oceanic and Atmospheric Administration predicts that 11 tropical storms - including five to seven hurricanes - could threaten the Atlantic and Gulf coasts this year. The prediction calls for a "normal" amount of activity during the June 1 through November 30 Hurricane Season; however, just one major storm is enough to cause extensive damage.

Insured losses from Hurricanes Floyd and Fran alone exceeded $2.7 billion. Major storms are often accompanied by tornadoes and flooding, so numerous risks need consideration when preparing for a hurricane season.

"While wind damage at the coast can be significant, residents should not forget the possibility of flooding like we saw with Hurricane Floyd," Long said. "Flood insurance policies require a 30-day waiting period, so get coverage now and don't try to buy insurance at the last minute. Contact your agent or the National Flood Insurance Program immediately to purchase flood coverage."

Commissioner Long and the North Carolina Department of Insurance suggest that North Carolinians remember the following storm preparation tips so they may minimize their property losses:

Homeowners should review their insurance policies with their agents. Most standard homeowners policies do not cover flood damage, and some policies in coastal areas may not cover windstorm damage. Don't wait until the storm is approaching to upgrade your coverage.
Flood insurance can be obtained by qualifying property owners by contacting your local agent or through the National Flood Insurance program. Call 800-638-6620 for more information. The Beach Plan is a protection program designed for Outer Banks property owners. It offers coverage for fire, lightning, wind and hail. Obtain more information by calling 800-662-7048.
Residents living in rental property should consider purchasing renter's insurance to cover losses of personal property within the rental unit.
Property owners should consider what amount of coverage they need based on two possible values - replacement value or actual cash value.

Replacement value is the amount needed to rebuild the home or to repair damages with materials of similar kind and quality, without deducting for depreciation.

Depreciation is the decrease in home or property value due to age or wear since the time it was built or purchased. Actual cash value is the amount it would take to repair damage to the home after depreciation.

Most standard homeowners' policies cover the contents of a home based on actual cash value, but many insurers offer an option to cover your property at replacement cost. The premium may be slightly higher with this option, but you may want to consider the extra coverage.

Make a list of your belongings and take pictures or videotape them. Include a close-up shot of the day's newspaper to provide the date.

Keep your inventory list along with purchase receipts, pictures and your insurance policy in a safe-deposit box or other safe place away from your home. If you are forced to evacuate, take a copy of your policy with you.

In the event of a storm, take action to protect your property - cover your windows with storm shutters, siding or plywood. Move vehicles into garages when possible, or park them near your home and away from trees.

Grills, patio furniture and potted plants should be moved into the house or garage. Loose objects in your yard can become missiles, so tie down anything you cannot bring indoors.

Additional tips for hurricane and storm preparation are also available online at the Department of Insurance's Web site.

-- Anonymous, June 22, 2001


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