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Archive for December, 2012|Monthly archive page

National Catastrophic Insurance Fund

In Hurricanes, Insurance, Insurance Costs, Natural Disasters, Real Estate, South Florida on December 21, 2012 at 1:32

The idea behind a National Catastrophic Insurance Fund is designed to cover all sorts of natural disasters throughout the country.  The general concept behind any kind of insurance is to spread the costs around so everyone pays a little, and no one pays a lot.  While South Florida still reigns as the capital of hurricanes, this year showed that a hurricane can hit anywhere.  New York and New Jersey learned quickly when they were blasted by Sandy.

It’s not just hurricanes.  Tornadoes, blizzards, fires,  hailstorms, wildfires and other unanticipated natural phenomena (avalanches, sinkholes, earthquakes, etc.) can all wreak havoc on your real estate.  Money Magazine explored the issue of a federal fund as far back as 2005.  Yes, there is always pushback   There’s no easy answer to safeguard property.  When a real disaster hits, insurance is a great relief.  Again, for a real disaster.

File Claims Intelligently

In Hurricanes, Insurance News, Natural Disasters on December 14, 2012 at 1:32

When Hurricane Sandy pummeled the Northeast at the end of October, Floridians knew what homeowners were feeling.  While it’s been a few years since the last truly destructive hurricane hit the state, one doesn’t quickly forget Hurricane Wilma, or the quadruplets of 2004 – Charley, Frances, Ivan and Jeanne.

Natural disasters can mean an overwhelmingly busy time for insurance companies.  Homeowners need to be wise about filing claims – because a hurricane hit the area doesn’t mean it’s time to finally getting around to redecorating the living room.

File claims intelligently.  Prepare in advance.

Take it from the Wall Street Journal.