When both the National Weather Service and the Big I (Independent Insurance Agents& Brokers of America, Inc.) write about a study published by npj Climate and Atmospheric Science called Spatial Trends in United States tornado frequency, it's probably a good idea to pay attention. Vittorio A. Gensini of Northern Illinois University and Harold E. Brooks of the National Severe Storms Laboratory published their study and it's created quite a buzz in the scientific community as well as in the insurance world.
Traditionally the Great Plains were thought of as "Tornado Alley". Research that was conducted however points to a decrease in frequency in portions of the central and southern Great Plains region, "while robust positive trends have been documented in portions of the Midwest and Southeast United States," hence the name "Dixie Alley". In the study this included Mississippi, Alabama, Arkansas, Missouri, Illinois, Indiana, Tennessee, and Kentucky.
In preparing for severe weather, there are a lot of resources such as the NOAA Tornado Safety Guide, and it's always a best practice to have a safety plan regardless of the hazards of where you live. Floods, fires, tornados, hurricanes, or even home burglaries necessitate a plan of action including a home inventory which can be extremely helpful to a family when in shock from a major loss. These are just a couple of way to keep a peace of mind when tragedy strikes.
Home Inventory
A storm or fire related claim can displace a family for up to a year in some cases. Relocating comes with its own challenges, especially if you have kids, pets, or elderly family members. Having a home inventory can speed up the claims process and make getting through those tough times much smoother! Check out this free (home inventory tool).
Even if you don't use the suggested online tool, you should make a list of all of your physical possessions along with their original and current values. All personal property includes things big and small, which can add up: Large appliances, smaller kitchen appliances, stereos and electronics, clothing, furniture, items stored in your attic or garage that may hold value, musical instruments, office items including computers, hard drives, and printers...It helps to put everything into logical categories as well whether it's by room or function. Most importantly, don't just make a hand written list and stick it in a filing cabinet that has the potential to burn up or sustain water damage. Modern technology has made it easier than ever to upload important documents to a cloud service (Dropbox, Google Drive, etc.)
Consider your personal property policy limitations
What are personal property policy limitations? Your insurance policy may cover the cost to repair or rebuild your home, but it may not include personal property loss of items within your home. You should contact your agent to review your policy to determine any limitations, and determine whether or not you own certain items that you wish to have covered. These can include but are not limited to:
* Antiques, jewelry and collectibles can be difficult to value and usually require appraisals.
It's wise to take the opportunity before storm season to update your information with your insurance company and inquire about issues such as coinsurance penalties and limits of liability. Experiencing a loss without replacement cost coverage can be devastating financially and emotionally. A little effort now can go a long way if and when a loss occurs saving you a lot of time and frustration.
For a full list of resources, please visit our Storm Disaster Resources Page! And as always please call your agent or client advisor if you have any questions at all regarding your policy or coverage.