Issue link: https://hub.associaonline.com/i/1122697
14 INSURANCE TIPS: WHAT TO DO [BEFORE AND AFTER THE STORM] It's important to be well-informed about your association's insurance policy before any potential storm hits. If there is damage to any community property during a hurricane, contact your insurance company as soon as possible so that an adjuster can appraise the damage. INSURANCE TIPS FOR BEFORE THE STORM • Review your insurance coverage to make sure it's appropriate for your community's needs. • Know the difference between replacement cost versus actual cost. If a hurricane destroys a television bought last year for $900 with a current market value of $600, the actual cost of $600 is what will be paid out. • Documentation of assets with pictures or video is not only helpful to insurance companies, but it also helps the claim filing process go more smoothly. • Store your inventory list, photos, and videos in a safe place, off the premises to avoid damage. • Know the contact information for your insurance company and agent so you can get in touch with them quickly. INSURANCE TIPS FOR AFTER THE STROM • Notify your insurance agent as soon as possible. • If you have vacated the premises, make sure your representative knows how and where to contact you. • Document all damaged items before beginning to replace or restore them.