Lieutenant Governor Gregory R. Francis reminds all Virgin Islanders to review their insurance policies and make any necessary adjustments in coverage in preparation for the 2011 hurricane season. Francis, who serves as the territory’s commissioner of insurance, suggests that residents review their insurance coverage annually as coverage needs change over time.
According to Francis, a review of insurance coverage should be a standard component of hurricane planning and emergency management. He recommends that residents do the following in order to prepare for the onset of hurricane season:
· Review their policy to make sure they have the right type of coverage for their primary residence – whether it’s a house or a boat.
· Buy enough insurance to rebuild the home and replace all personal belongings.
· If renting, secure renter’s insurance to cover any losses of their personal property, since a landlord’s coverage may only cover the building.
· Take photographs of their home; and also photograph and inventory valuables and other personal property inside of the structure.
· Store important documents such as insurance policies, deeds, property records, etc. in a waterproof and fireproof container or at an off island location.
· Evaluate their property and purchase flood insurance if needed.
The lieutenant governor hopes that both homeowners and renters will use the annual review for hurricane preparedness as an opportunity to shop around for the insurance policy that best fits their needs. He reminds the community to update their property insurance regularly to include improvements, major purchases and increased rebuilding costs.
For more information on disaster preparedness and to download a disaster inventory checklist, visit www.insureuonline.org.