The National Weather Service issued a hurricane watch as Hurricane Isabel approaches the East Coast. Virginia has declared a state of emergency and North Carolina officials ordered the evacuation of the Outer Banks. Many are leaving or preparing their homes, boats and other properties for the worst case disaster. Do you have property insurance to cover damages caused by hurricanes?
Mary Bannister, deputy commissioner for the Property Casualty division at the Virgitnia State Corporation Commissions Bureau of Insurance, was online Wednesday, Sept. 17 at 3 p.m. ET to discuss what you need to know about property insurance policies in regards to Hurricane Isabel.
_____Reporter's Query_____
 Overnight at Work?
Did you get stuck at your workplace overnight? Did your company put you up at a hotel, or did you have to camp out at the office? The Washington Post is interested in publishing stories about how people coped in their offices. Please e-mail Amy Joyce at joycea@washpost.com and include your name and telephone number.
|
| |
|
The transcript follows.
Editor's Note: Washingtonpost.com moderators retain editorial control over Live Online discussions and choose the most relevant questions for guests and hosts; guests and hosts can decline to answer questions.
_______________
Alexandria, Va. - HELP!:
For 5 months I've been asking my insurance agent to enroll me in the Federal flood insurance program. They just haven't done anything. What do I do?
Mary Bannister: The National Flood Insurance Plan has a 30 day waiting period, so unfortunately you are going to be unable to obtain coverage for Isabel. We are not sure why your agent did not obtain a policy for you, but we will be glad to investigate this situation if you will contact us. Our toll free number is 1-877-310-6560.
_______________________
Alexandria, Va.:
What are typical coverages under VA homeowners policies? What things are typically not covered? Is there anything we can do to protect us at this point from those items not typically covered?
Mary Bannister: The homeowners policy is a very broad contract that covers many different perils such as fire, lightning, windstorm, etc. Flood is a major event that is not covered and must be covered by a separate policy.
_______________________
Haymarket, Va.:
Is the damage covered by insurance if the winds blow over a large tree and damages house, garage, or vehicles.
Mary Bannister: Yes, a homeowners policy would provide coverage to the house and the garage if the tree is blown over by wind, minus your deductible. Your automobiles would be covered if you have purchased comprehensive coverage under your auto policy, minus your deductible.
_______________________
Arlington, Va.:
If I got renters insurance today, would I be covered for anything that happens in the next few days?
Mary Bannister: That's not the question. The question at this point is whether or not anyone will provide you the coverage since the storm is so imminent. If you can obtain a policy, there would be coverage as soon as the policy became effective.
_______________________
Arlington, Va.:
If a tree from a neighbors yard blows over and damages my house or car, who is liable for the damage?
Mary Bannister: Generally, if a neighbor's healthy tree falls on your house as a result a storm, your insurance policy will provide coverage. Your neighbor could be considered liable if the tree was determined to be unhealthy.
_______________________
Arlington, Va.:
Can you recommend an insurance company that is still writting policies in Va. I need homeowners insurance.
Mary Bannister: We are not aware of any insurance companies that are currently writing new policies with the storm being so imminent.
_______________________
Springfield, Va.:
I checked with my insurance agent about flood damage. They told me that our area is not in flood zone. My insurance policy covered wind damage, hale damage and sewerage blockage. For flood coverage their is 30 days wait time . Can you suggest what to do.
Thanks
Mary Bannister: If you have not purchased flood insurance at this time, it is too late for this storm because of the thirty day waiting period under the National Flood Insurance Program.
_______________________
Arlington, Va.:
I live in a Pentagon City high-rise. If my windows break, am I responsible for the cost of replacing them or is the management?
Mary Bannister: If you live in a condo, you need to review your condo bylaws. If you live in an apartment building, you need to review your lease. You need to check with your insurance agent or company to determine what coverage you have.
_______________________
washingtonpost.com:
Often many consumers wait to the last minute to check their insurance coverage, especially during natural disasters. Some of the insurance companies have restricted selling new policies and customers from renewing their policies -- Isabel Prompts Calls to Insurers (Post, Sept. 17). What is your advice for consumers and is it fair for insurers to do this?
Mary Bannister: Unfortunately it is too late to adjust your coverage and limits now. Insureds should talk to their agents annually to review their coverages.
_______________________
Lorton, Va.:
If we are in danger of having major flood damages in our area, why is it that the protection is not included in our home owners policy? Why is there a 30 day waiting period?
Mary Bannister: Because flooding is considered a catastrophic exposure, the insurance industry would not be able to absorb the losses. Therefore, the federal government established the National Flood Insurance Program. Without the 30 day waiting period, only people who anticipate flooding would buy the coverage. This results in what companies call adverse selection.
_______________________
Richmond, Va.:
Are there deductibles offered/allowed for hurricane and/or wind coverage in Virginia?
Are they required by law or regulation?
Mary Bannister: Many companies either offer or require wind or hurricane deductibles. Sometimes these are flat dollar amounts or percentages of the dwelling amount. These are not required by law.
_______________________
Springfield, Va.:
What are the chances of my policy being dropped if I claim legitmate damages due to fallen trees, etc.?
Mary Bannister: Virginia law prohibits companies from nonrenewing a homeowners policy solely due to a loss resulting from natural causes.
_______________________
Arlington, Va.:
Is it accurate that "flood" in the context of extra flood insurance is considered the rising of a body of water to encompass one's home and NOT your basement leaks and you have a foot of standing water?
Mary Bannister: Questions regarding coverage under the National Flood Insurance Program should be referred to their offices. They can be reached at 1-888-356-6329.
_______________________
Vienna, Va.:
What relief plans does Virginia have to assess property damages? Are you working with both state and private insurers?
Mary Bannister: The Virginia Department of Emergency Management has the responsibility of assessing property damage as a result of a storm. Their website is http://www.vdes.state.va.us/.
_______________________
Herndon, Va.:
Do typical home owners insurance cover losses related to natural disasters such as hurricanes?
Mary Bannister: Under the homeowners policy, losses caused by wind and rain will be covered. Damage caused by flooding is not covered. Flood coverage can be purchased from the National Flood Insurance Program or through companies that provide coverage through the National Flood Insurance Program. Your agent should be able to give you more details. There is a 30 day waiting period, so in this case, it would be too late to purchase coverage for Isabel.
_______________________
Springfield, Va.:
What will the after effects be of filing a storm claim for damages done to our property? Will an insurer be able to drop our coverage if the damage is storm related?
Mary Bannister: Virginia law prohibits a company from nonrenewing a homeowners policy solely due to a loss resulting from natural causes.
_______________________
Springfield, Va.:
Should you not have flood insurance and your house does flood, is there any federal disaster relief program that will help or any other organization that will help?
Mary Bannister: The Federal Emergency Management Agency (FEMA) provides assistance to victims of disasters. You can learn more about FEMA at their website at www.fema.gov.
_______________________
Virginia:
My home backs to a pond that is not on my lot. In the event that this pond overflows and causes flooding of my basement, who would be responsible HOA or myself? Thanks.
Mary Bannister: This is something that would have to be discussed with your homeowners association, your insurance agent, and even possibly an attorney.
_______________________
Mary Bannister: If you have any further questions, you may call our Consumer Services Section at 1-877-310-6560. Thanks for your participation. Our office will be closed on Thursday due to the storm. It has not yet been determined whether we will be open on Friday.
_______________________
