News

• 05/01/2008 - Insurance tips for the hurricane season of 2008.

  Insurance tips i.c.w. the fire insurance on your dwelling or the home contents for the HURRICANE SEASON.
  
  Also for this season we wish to bring a few points and suggestions to your attention.
  
  - Is a fire insurance in force on the house and its contents?
  - Has the insurance premium for the current year been paid in full and are you in possession of the original Insurance receipt of the Insurance company.
  - Have you convinced yourself that your fire insurance policy  includes  cover    for storm and hurricane?
  - Has your home been remodeled or has it been expanded?
  - Have new properties been added to the home contents?
  - Have the sums insured under these policies been adjusted in accordance with    these changes?
  
  When a storm threat presents itself, the insurance companies will no longer accept new insurance applications for these risks while existing insurance policies cannot be extended to include these risks.
  All fire insurance policies with a hurricane/storm damage cover contain a deductible which will be applied when adjusting a claim. This deductible is a maximum of 2 % of the sum insured of the house and the contents with a minimum own contribution of Naf 1.000.-
  
  Please make sure the following items have been taken care of before a storm threatens:
  
  For your dwelling and the outbuildings:
  - Building plans of recent date, appraisal reports (not older then 2 years) stating the rebuilding cost of the dwelling, must be kept in a safe and moisture proof place.
  For your home contents:
  - Remove your belongings in open front and back porches, balconies or property exposed in the open and safely store these in outbuildings belonging to your house. Perhaps these can also be moved in part to the main dwelling.
  Most policies have restrictions in respect to storm cover for property exposed in the open.
  - Photo prints, a video of the home contents, preferably with date/year indication, appraisal reports of your valuables, will all proof their usefulness when preparing your claim.
  Finally:
  The documents mentioned above should be kept in a safe and dry place known to you and your partner. Waterproof “ziplock” bags (available in various sizes) are
   a perfect alternative for this purpose.
  Make sure you have the following items available well ahead of time:
  1) A first-aid kit. 2) Canned food and a can opener. 3) Three gallons of water per person.
  4) Clothing, rain gear, and bedding or sleeping bags. 5) One flashlight per person, a pocket radio with sufficient extra batteries. 6) Any special items like medicines or vitamins needed for infants or people with disabilities.