American Property Casualty Insurance Association
  • Staff Contact: Brooke Kelley     
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Contact:

Brooke Kelley-Hunt

Phone:

847-553-3671 or 847-894-3881

Email:

Brooke.kelley-hunt@pciaa.net

 

 

FOR RELEASE ON RECEIPT

September 8, 2014

September is National Preparedness Month

PCI Urges Consumers to Plan Ahead, Take Action and Create a Home Inventory

CHICAGO – The Property Casualty Insurers Association of America (PCI) is continuing its support for FEMA’s National Preparedness Month and urging homeowners, renters, and business owners create a home inventory by taking a look around and documenting your possessions. If something does happen to your home or business, you’ll already have documentation of exactly what was lost. This will help in the recovery process, which is often a very stressful situation.

“It’s important to create an inventory of what’s inside your home or business. It only takes a few minutes and could save you hours of trying to determine exactly what you lost,” said Chris Hackett, director of personal lines for PCI. “Simply use the video feature on your smartphone to capture images of those valuable items, and then store the video in your email or somewhere safe. If something should happen to your home or business, you’ll be able to easily account for all your belongings and report the items lost or damaged to your insurance company or agent.”

In addition to using video, inventories can be completed in a variety of ways using online tools, apps or specially-designed software. Several insurance companies have home inventory apps you can download as well. Check with your insurer or agent to see what resources they have available.

PCI has a video that highlights the ease and importance of creating a home inventory.

The Insurance Information Institute has free online home inventory software, Know Your Stuff® - Home Inventory. This application makes creating and updating your home inventory easy and efficient.

PCI also has an online interactive guide Quick Steps for Disaster Preparedness and Recovery which can help residents stay ready for natural disasters.

PCI Insurance Checklist:  

·Talk with your insurance agent or company about your insurance policy. Check your deductible and make sure you have a solid understanding of your current coverage.

·Assess whether you have adequate home, auto and other property coverage. Property damage can take a tremendous financial and mental toll. Knowing you have proper coverage will give you peace of mind.

·Review additional coverage options, particularly flood coverage. Heavy rains and storm surge can cause extensive flood damage in coastal and inland areas. Keep in mind that there’s typically a 30-day waiting period between the date of purchase and when flood coverage takes effect. Also, depending on where you live it might be a good idea to check into purchasing earthquake insurance. The standard homeowners policy does not cover losses that result from earthquakes, due to the unpredictability and widespread catastrophic nature of these events. The deductible for earthquake insurance varies based on the policy and the insurer. These deductibles are generally based on a percentage of the replacement value of the home. The deductible can range from two to 25 percent of the home's replacement value.

For more tips on how to prepare for a natural disasters follow us @PCIAA use #NatlPrep

PCI is composed of more than 1,000 member companies, representing the broadest cross-section of insurers of any national trade association. PCI members write over $195 billion in annual premium, 39 percent of the nation’s property casualty insurance. Member companies write 46 percent of the U.S. automobile insurance market, 32 percent of the homeowners market, 37 percent of the commercial property and liability market, and 41 percent of the private workers compensation market.

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