This month I am featuring a collection of the best Checkered Flag blogs
from the past few years. One of our most popular topics is the crazy
weather here in Hampton Roads. Here's a helpful checklist we found for
storm and hurricane preparedness.
This post comes from Kimberly
Lankford from partner Kiplinger's Personal Finance magazine. (edited for
length)
Hurricane season begins on June 1, and now
is the perfect time to take steps to protect your home (and finances)
from the storms -- rather than waiting until a storm approaches and
scrambling to get ready.
1. Consider a home
generator
Not only will you be more comfortable with
lights, electronics, your refrigerator and air conditioning, but the
generator can also help you avoid other problems when the power goes out
-- such as flooding when your sump pump stops working or mold that can
grow if your basement floods when your air conditioning is on the blink,
too.
You may even get a 5% discount on your
homeowners insurance if you install an automatic standby generator,
which is powered by natural gas or propane and turns on automatically
after detecting a power outage. The most common is 17 kilowatts, which
powers 16 circuits, says Roy Cranford, president of generator dealer CDS
Emergency Power, in Baltimore. The generator costs about $4,000, plus
about $3,500 for installation (to connect to your electrical system and
gas or propane line).
Portable generators are less
expensive and can be a good option if you don't have a gas or propane
line, although they generally won't qualify for a homeowners insurance
discount. A 6.5 kilowatt portable generator costs about $800 to $1,000,
says Cranford, and can power about ten circuits -- enough for most of a
2,000-square-foot house, not counting central air
conditioning.
2. Look into flood insurance
now
Spring and summer storm flooding often causes
damage, which is not covered by homeowners insurance. You can buy a
policy from the National Flood Insurance Program from local insurance
agents (get price quotes and a risk assessment for your address at
FloodSmart.gov). But there's a 30-day waiting period before flood
coverage takes effect, so buy it soon to be sure your policy is up and
running near the beginning of hurricane season.
3.
Add sewage-backup coverage
Heavy rains can overburden
the storm water system, causing water or sewage to back up into your
house -- a common (and pretty gross) problem during storm season. But
most homeowners insurance policies no longer cover sewage backup
automatically. It generally costs about $50 to add $10,000 to $20,000 of
sewage-backup coverage to your homeowners insurance policy, which will
cover damages if your sewer backs up or if water gets into your house
because your sump pump stops working.
4. Use new
tools to update your home inventory
If you do have
storm damage, an up-to-date home inventory can smooth the way to getting
your insurance claim paid more quickly. You no longer need to go
through your house and write down everything; you can take photos and
video of everything -- including your valuables and the architectural
details of your home -- with your smart phone and e-mail it to yourself
so you can access it from anywhere. Several insurance companies have
apps that help you maintain your inventory and file claims online. Or
you can use the Insurance Information Institute's Know Your Stuff app or
the National Association of Insurance Commissioners' inventory
app.
5. Trim trees
Fallen tree
branches frequently cause damage during a hurricane, tornado or storm
with high winds. If a tree damages your home, the policy will usually
pay to fix your home, but it usually pays no more than $500 to $1,000
for tree removal, even though it can cost a few thousand dollars to
clean up a fallen tree. This is a good time to do some yard maintenance:
Trim shrubs and low-hanging tree branches, and clean your gutters of
leaves and other debris so they can handle heavy rains. Do some
financial maintenance, too: Add extra money to your emergency fund for
any uncovered damages and to be able to pay your homeowners insurance
deductible if you end up having a claim.
6. Put
together a disaster kit
No matter when a disaster
hits, it's a good idea to have a battery-operated radio, flashlights and
a phone that isn't dependent on electricity in case the power is out
for a while. And right before a storm, stock up on groceries and water,
fully charge your cell phone and other electronics, and make sure your
car has a full tank of gas.
Meanwhile, store some
cash, insurance policies, your home inventory (if it's on paper), tax
records and other important papers and contact information in a portable
file you can take with you if you are evacuated. And it's also a good
idea to store as many of these documents online so they are accessible
wherever you are.
For more Hampton Roads Hurricane
information, stay tuned to
Checkered
Flag.com, the home of your favorite
Hampton Roads auto
parts stores.
Source: [money.msn.com]
