Date: August 1, 2006
For more information contact: Eileen Mallow, Assistant Deputy Commissioner, (608) 266-7843 or eileen.mallow@wisconsin.gov

Summer Storms Raise Insurance Questions

Madison, WI—Unfortunately, some Wisconsin residents have had recent experience with property losses from severe storms and tornados. The Office of the Commissioner of Insurance (OCI) can help consumers with questions about how to settle property insurance claims due to tornado, storm and flood damage.

"If you have had a loss, it is important you understand your insurer's procedures for documenting your claim," said Jorge Gomez, Commissioner of Insurance. "Especially since each insurer may have a different process."

These procedures may include asking the policyholder to prepare a list of damaged or destroyed items. In order to be prepared for an event like this, take an inventory of your house before storm season begins. Take pictures or video of each room and the exterior of your home, make lists of all your furnishings, clothes and valuables, the price of each, and the receipt if possible. Keep these lists in a safe deposit box, or somewhere where they will not be lost or damaged.

"Consumers should thoroughly review their insurance documents to ensure that they have complete coverage that meets their needs," said Gomez. "For example, flood insurance must be bought separately from homeowner's insurance. If you live in an area prone to flooding, you may be eligible to buy flood insurance - available through the National Flood Insurance Program (NFIP) to communities the government has agreed qualify for the coverage." Your homeowner's insurance agent can assist you in purchasing flood insurance.

Because many consumers are not prepared for storm and flood damage, and making lists can be a difficult task when there has been significant destruction, OCI can offer assistance to consumers to help them understand the process.

Policyholders who are having problems getting claims resolved should take the following steps:

• Contact the company/agent to make sure you know what is required to document the loss. (Contact OCI if assistance is needed in making contact with the agent or company. Contact information for OCI is provided below.)
• Work with them to complete the proof of loss.
• Contact OCI for assistance if there are any questions or issues with your insurance claim.

Publications such as Settling Property Insurance Claims, can be ordered free from the agency by writing to OCI Publications, P.O. Box 7873, Madison, WI 53707-7873, calling 800-236-8517 or visiting the OCI Web site at http://oci.wi.gov.

Created by the Legislature in 1871, Wisconsin's Office of the Commissioner of Insurance (OCI) was vested with broad powers to ensure that the insurance industry responsibly and adequately met the insurance needs of Wisconsin citizens. Today, OCI's mission is to lead the way in informing and protecting the public and responding to its insurance needs.