What do you do if some type of natural disaster damages your home? First, before disaster strikes, familiarize yourself with the “fine print” in your policy. While hurricane losses are covered, losses due to flooding are generally excluded under most homeowner’s insurance policies. For those who are not enrolled in the National Flood Insurance Program, there are loans and financial assistance programs available. The following steps should be taken to file an insurance claim for storm damage: • Call your insurance agent immediately. If possible, follow up with a letter and keep a copy. • Leave a phone number (e.g., friend’s house or cell phone) where you can be reached by an insurance company adjuster. • Begin cleaning up as soon as possible. Don’t wait for an adjuster. However, take photos before cleaning up to document your loss. • Keep damaged materials for proof of loss. • Protect your property from further damage by making temporary repairs. Save all receipts for reimbursement. Even if your insurance doesn’t fully reimburse you, you may qualify for an itemized deduction for federal income taxes if losses exceed 10% of your adjusted gross income. • If your home is uninhabitable, save all receipts related to temporary lodging and food. • Make a list of damaged articles and provide any other information the adjuster requests to process your claim. Keep copies of all information provided to the insurance company and all correspondence from them. For more information on disaster recovery, seek information on the following Web site: http://msucares.com/disaster/index.html.
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