Insurers association urges homeowners to review policies as 2014 begins
As 2014 begins, the Property Casualty Insurers Association of America urges homeowners, renters and motorists to review their insurance policies to make sure they’re ready for whatever the new year may bring.
“Knowing what’s in your insurance policy is a great new year’s resolution,” said Chris Hackett, PCI’s director of personal lines. “With the new year, many people are setting goals related to personal finances, which makes this the perfect time to talk with your insurance agent, review your policy and make certain you have the coverage you need to protect you, your family and your belongings.”
Although favorable weather conditions in 2013 produced one of the quietest Atlantic hurricane seasons in recent memory, it’s important to remain vigilant. “There is always the potential for a volatile storm season in the future, and the time to prepare is now, rather than at the last minute,” said Hackett.
Dry conditions across the country contributed to more than 45,000 wildfires, which burned over 4 million acres and destroyed thousands of homes in 2013. “These dry conditions are predicted to continue in 2014, which means we could be in for another unstable year,” said Hackett.
According to the National Oceanic and Atmospheric Administration, there were 111 tornado reports this past November, making it one of the most active Novembers on record - well above the average of 58 tornadoes. “This late-season tornado outbreak reminds us that the possibility of severe weather is always something to be aware of and highlights the importance of advance preparations,” said Hackett.
PCI advises homeowners to make a few 2014 resolutions: 1) Conduct an annual review of policies. 2) Know what the policies cover and don't cover. 3) Create a home inventory of possessions. 4) Consider purchasing flood/earthquake insurance. 5) Comparison shop for the best deals.
PCI is composed of more than 1,000 member companies representing the broadest cross-section of insurers of any national trade association. Visit www.pciaa.net to learn more.