Department of Professional & Financial Regulation: Bureau of Insurance

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Consumer Insight from the Maine Bureau of Insurance: Preparing for and Recovering from Summer Storms [ [link removed] ]

07/06/2023 03:45 PM EDT
Acting Maine Insurance Superintendent Timothy Schott is reminding Mainers today to plan for summer storms and potential flooding by reviewing and updating their insurance policies, as needed.

"You can purchase a flood insurance policy at any time, but there is a 30-day waiting period for coverage to take effect," Schott stated.

The Atlantic hurricane season officially runs from June 1 to November 30 each year. Though hurricane force winds have devastated some areas in Maine, tropical storms and hurricanes typically reach Maine in the '*post hurricane stage*,' with winds of less than 74 mph, according to the Maine Emergency Management Agency (MEMA). These storms commonly result in *inland flooding*, and *coastal storm surges* and *rip tides*. MEMA also notes that some of the greatest rainfall amounts come from weaker storms that drift slowly or stall over an area.

To be sure you can *recover* from damage caused by severe weather, the Bureau of Insurance strongly recommends that Mainers review their insurance coverage with their agent or company each year.

Here are some important points to keep in mind:

- Insurance is needed for most property owners to rebuild structures and to repair or replace automobiles, and to fully recover from severe weather damage. It is a mistake to think that the Federal Emergency Management Agency (FEMA) will cover losses after a federal emergency is declared. FEMA support is targeted toward immediate needs that provide shelter, safety and support to individuals, families, and communities.

- Include flood insurance as part of your regular review of coverage. FEMA reports that between 2014 and 2018, more than 40% of flood claims were submitted from outside of high-risk flood areas. Details about flood insurance are available from the National Flood Insurance Program (NFIP) by calling 1-800-427-4661, or online at floodsmart.gov [ [link removed] ].

- Understand the coverage provisions in your policy; for example, some policies provide a separate, higher deductible for damage caused by hurricanes.

- Create a home inventory to be better prepared to make a claim. A home inventory will speed up the claims process if you have a loss and will help to ensure that you are correctly reimbursed by your insurer. Use one of the home inventory tools [ [link removed] ] on the Bureau's website.

For important *preparedness* tips to protect property and life, visit maineprepares.com [ [link removed] ] or FEMAs ready.gov [ [link removed] ].

The Bureau of Insurance is available to help with questions about insurance; visit maine.gov/insurance [ [link removed] ], including Storm Related Claims FAQs [ [link removed] ]; call 800-300-5000 (TTY 711), or e-mail [email protected].

 

 

*Maine Bureau of Insurance/Department of Professional & Financial Regulation*
*US Mail Address:* 34 State House Station, Augusta, Maine 04333
*Physical Address:* 76 Northern Avenue, Gardiner, Maine 04345
*Phone:* (207) 624-8475 or 800-300-5000 (in Maine); TTY: Maine Relay 711
*Email:* [email protected] *Web:* www.maine.gov/insurance [ [link removed] ]



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