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If you have several ‘spare’ hours and perhaps a law degree, then reading and understanding your homeowners insurance policy should not be a problem, right? Wrong! The majority of policy holders do not fully comprehend the terms of their policies and when faced with property loss or damage, still ask the timeworn question: What does the insurance cover? The purpose of homeowners insurance is to reduce your financial liability against risk. Risk is defined as a probability or threat of damage, injury, liability, loss, or any other negative occurrence that is caused by external or internal vulnerabilities. The insurer agrees to indemnify (compensate) loss or damage as long as the insured take preemptive action to reduce risk and protect their own property.
The following is some basic information concerning homeowners insurance:
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The Insurance Information Institute is a website designed to improve the understanding of insurance and its processes. Here are some interesting statistics they recently shared pertaining to lightning:
According to an analysis by the National Fire Protection Association (NFPA), local U.S. fire departments responded to an average of 22, 600 fires per year from 2007 to 2011. These fires caused an average of nine civilian deaths and $451 million in direct property damage per year. Home fires accounted for 19 percent, non-residential structures, including businesses and other non-residential properties accounted for 7 percent, vehicle fires accounted for 1 percent, and outdoor and unclassified properties accounted for the remaining 73 percent. Lightning fires in non-residential properties caused an average of $108 million in direct property damage each year per the survey. The average annual damage in non-residential properties included:
Damage or loss due to lightning can cause major financial burdens. Help protect your assets by ensuring that your belongings are adequately covered under your insurance policy and adding protection systems whenever possible. Our certified and knowledgeable Public Adjusters at messtx.com understand the significance of these kinds of losses. They are experienced in negotiating with insurance companies and handle your claim from start to finish. CALL TODAY: 855-445-3404 RELATED LINKS: www.messtx.com © 2016 MESSTX.com Electronics, Lightning, and Insurance ~ Part 1 A powerful bolt of lightning, even when it appears far away, can enter your home in a split second through electric, phone, or cable lines. Any item that is plugged in is vulnerable to jolting, frying, or damage. However, there are some items in your home or business that are more susceptible to lightning strikes than others.
Non-electronic items are less likely to be affected from distant lightning strikes. However, if your home takes a direct hit and they are plugged in, it is probable that they will be damaged or fried. Non-electronic appliances include items such as: • toasters • vacuum cleaners • lamps • mixers Electronic components tend to be bigger ticket and things with a ‘brain’. An electrical surge can easily destroy these items which can include: • computer and office equipment • refrigerators • washers and dryers • security systems • phones The best preparation for a pending lightning storm is unplugging as many electrical items as possible. When this is not feasible, you can enjoy peace of mind by taking the following simple precautions beforehand: • Ensure all electrical items are plugged into an up-to-date surge protector • Visit with your insurance agent for guaranteed coverage of electrical appliances under your insurance policy Large ticket items such as air conditioning/heating units, etc. are hard wired and more difficult to protect. To add an extra layer of safety, a surge protector for your entire home can be installed by a certified electrician at the entrance of electricity. Lightning follows no rules and is a dangerous game. If your home is hit by a lightning bolt and damages your belongings, you will need to file an insurance claim. The average claim for a lightning strike is $7,400. Our professional and certified Public Adjusters at messtx.com stand ready and are happy to assist you in the complicated claims process and return your home to order following a lightning strike! CALL TODAY: 855-445-3404 RELATED LINKS: www.messtx.com © 2016 MESSTX.com |
MESSTX.comThe team of Public Adjusters at Morgan Elite Specialist Services have over 25 years of experience in the insurance industry. All of our adjusters are licensed and bonded by the Department of Insurance and are required to take continuing education courses annually. Archives
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