Insurance companies may not allow new or added coverage to be bound when a hurricane watch or warning is in progress.
Stafford Springs, Connecticut (PRWEB) November 01, 2012
Connecticut insurance agency, Paradiso Insurance, has taught the residents of Connecticut quite a bit about coverage in the wake of Hurricane Sandy. This disaster has raised a variety of questions and concerns the agency’s insurance experts were more than happy to address.
Here’s what Paradiso Insurance taught residents:
#1. Binding coverage – a binder is a written or oral statement that provides immediate insurance protection for a specified period. It’s designed to provide temporary coverage until a policy is issued or denied.
What’s important to know: Residents must NOT wait until the last minute to ask for a binder, such as just before a storm like Hurricane Sandy hits. As a storm approaches, insurance companies may not allow coverage to be bound so it’s important to ask for a binder beforehand.
#2. What’s NOT covered – typical Connecticut homeowners insurance policy covers liability, personal possessions, damage done to the physical structure of a home, replacement costs and additional living expenses. It does NOT cover water and flood damage. Purchasing an additional flood insurance policy is essential. An umbrella insurance policy may be a good option, too.
#3. Anticipating changes to policies in the future – Insurance companies may not allow new or added coverage to be bound when a hurricane watch or warning is in progress. However, if a policy is bound prior to a storm and scheduled to be issued with an effective date during the watch or warning period, it’s more likely to be honored.
Paradiso Insurance realizes that Hurricane Sandy has come and gone, but that doesn’t mean residents should forget about coverage. The bottom line: Connecticut residents must make insurance coverage decisions prior to a storm or hurricane.
The agents at Paradiso Insurance are devoted to keeping the Connecticut community safe. While we may be residents’ go-to resource for home insurance inquiries and quotes, we’re also here to provide tips, safety advice and more. Paradiso Insurance genuinely cares about the Connecticut community and continues to prove this through its community initiatives and involvement with local charities.
About Paradiso Insurance:
Paradiso Insurance has more than 11 years of experience providing insurance solutions and financial services to residents and businesses in the Connecticut area. Our agency carries all lines of insurance — notably home, auto, investments, life and Connecticut commercial insurance. Whether you're looking to purchase insurance for the first time or simply want to re-evaluate your coverage, Paradiso Insurance will be there for you.