Insurance Covers Expenses Incurred To Make Temporary ..

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HURRICANE KATRINAGUIDE TO UNDERSTANDING
INSURANCE COVERAGE,THE CLAIMS PROCESS, and OTHER
INFORMATION
DISCLAIMER The information provided in this
material and in any accompanying presentations is
provided for informational purposes only and is
not represented to be error free nor intended to
provide advice, legal or otherwise. Exxon Mobil
Corporation and its related and affiliated
companies specifically disclaims any liability
for damages sustained by any person relying upon
this information.
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ExxonMobil Risk Management
Contacts
John Dill Office Phone [phone] Cell
Phone [phone] Fax (703)
846-2363 E-Mail john.e.dill_at_exxonmobil.com
Todd Johnstone Office Phone [phone] Cell
Phone [phone] Fax (713)
680-7303 E-Mail todd.a.johnstone_at_exxonmobil.com
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Understanding Your Insurance Policy

• Coverage For Your Home
• Coverage For Your Personal Items
• Coverage For Other Structures
• Coverage For Living Expenses
• Coverage For Tree Removal Clean-Up
• Coverage For Temporary Repairs

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Coverage For Your Home

• Coverage Amount Listed On Policy
• All Risk Coverage-with Exceptions (Flood)
• Replacement Cost Coverage
• Valued Policy Statute
• May Pay Policy Limit If Home Is Total Loss
• Hurricane Deductible
• Higher Deductible Than Standard Deductible
• Temporary Repairs Covered
• Depreciation Holdback Until Property Replaced

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Coverage For Your Personal Items

• Coverage Amount Listed On Policy
• Usually 50 of House Coverage Amount
• Coverage Only For Named Causes
• Replacement Cost Coverage Endorsement
• Food Spoilage - Limited Coverage
• Things To Do
• Prepare List Of Damaged Items
• If Possible, Save Items For Inspection
• Take Photos Of Items Before Disposal

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Coverage For Other Structures

• Coverage Amount Listed On Policy
• Usually 10 Of House Coverage Amount
• All Risk Coverage
• Replacement Cost Coverage
• Insurance To Value Requirements
• Fence Damage Paid On Depreciated Basis

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Coverage For Living Expenses

• Coverage Amount Listed On Policy
• Usually 20 Of House Coverage Amount
• Pays Extra Living Costs
• May Pay For Generator-if Needed
• Pays For Variety Of Accommodations

SAVE ALL RECEIPTS!
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Coverage For Tree Removal Clean-Up

• Pays For Removal From Covered Property Such As
• Home
• Driveways
• Swimming Pool
• Fences
• Once Trees Are Removed From Covered Property,
  There Is 500 Of Coverage Available To Remove All
  Trees From Premises.

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Coverage For Temporary Repairs

• Insurance Covers Expenses Incurred To Make
  Temporary Repairs Needed To
• Protect Property From Further Damage
• Make House Habitable
• Document The Need For Temporary Repairs
• Save Receipts For Expenses Incurred

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Flood Insurance

• Specified Coverage Amount For Building Personal
  Items
• Separate Deductible For Building Personal Items
• Policy Usually Pays Replacement Cost On Insured
  Home If It Is The Primary Residence And The
  Amount Of Coverage Is 80 Or More Of The
  Replacement Cost Of The Building
• Personal Property Paid On Depreciated Basis
• Must submit Proof Of Loss Form Within 60 Days Or
  Secure Extension Of Time To File Proof Of Loss

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Renters Insurance

• Provides Coverage For Personal Items
• Coverage Only For Named Causes
• Pays Depreciated Value Unless Replacement Cost
  Endorsement Purchased
• Pays Extra Expense Extra Living Costs
• Coverage Amount Usually 20 Of Personal Property
  Coverage Amount Or For Specified Time Period Such
  As For 6-Months

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Auto Insurance

• Comprehensive Coverage Provides Coverage For All
  Damages Except Collision With A Fixed Object
• Comprehensive Coverage Deductible May Be Lower
  Than Collision Deductible
• Comprehensive Coverage Provides Coverage For
• Flood
• Damage From Falling Objects Windblown Debris
• Most Other Damage Occurring To A Vehicle

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Question Answer

• Question How do I report my Claim?
• Answer Call your insurance agent or insurance
  company and report your claim.
• Question How do I know what coverage I have?
• Answer The front of your insurance policy has a
  page called the Declarations Page. Look at this
  page and it will indicate the amount of your
  coverage.
• Question How long will it take for an adjuster
  to call me?
• Answer It depends on each situation. Call your
  insurance company to secure an idea of when you
  should expect to hear from an adjuster.

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Question Answer (cont.)
Question Will the adjuster attempt to reduce my
claim? Answer The adjuster wants to pay and
close your claim as fast as possible and still be
fair to you and your insurance company. The
adjuster may pay more than you expected or less
than you expected, depending on your coverage and
damages. Adjusters are encouraged to pay fair
amounts. Question Should I request an advance
payment from my insurance company? Answer If you
sustained significant damage and you need money
now, you should request an advance payment from
your insurance company. Question Should I throw
damaged items away? Answer Without creating a
hazard, and if possible, you should save evidence
of valuable items so that you can document you
owned these items. Question Should I hire a
public adjuster to represent me? Answer The
decision to hire a public adjuster is a personal
choice that you must make depending on your
circumstances.
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Question Answer (cont.)
Question Can I use my own repair contractor or
should I use the contractor suggested by the
insurance company? Answer You can use your own
contractor. The contractor suggested by the
insurance company may be able to expedite your
claim handling since the contractor knows the
insurance company procedures and requirements and
may be able to resolve issues more easily with
your insurance company. Question Will the
insurance company pay to take care of my animals
while I am out of my home? Answer The cost of
boarding or kenneling your animals will be
covered as additional living expense
costs. Question If I rent a travel trailer or
motor home to live in, will the insurance company
pay for the cost? Answer Within reason, the
insurance company should pay for the cost as an
additional living expense.
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Question Answer (cont.)

• Question If I buy a generator, will the
  insurance company pay for it?
• Answer If you are going to be without power for
  a significant period of time, the insurance
  company should pay for a generator as an
  additional living expense.
• Question If I stay with relatives and pay them,
  will I be reimbursed?
• Answer If you have increased living costs
  because you are staying with relatives, the
  insurance company should pay for the increased
  costs as additional living expenses.
• Question Should I get the trees off my house and
  buildings and make temporary repairs?
• Answer If possible, you should take action to
  make temporary repairs to prevent further damage
  and to make your house habitable.

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Question Answer (cont.)
Question What is depreciation and how does it
affect my claim? Answer Depreciation is the
reduction in value of property because of age or
use. If you have replacement cost coverage, the
insurance company may only pay the depreciated
value of the item until you replace the item.
Once you replace the item, the insurance company
will usually pay only what you spent to replace
the item. Question Will the insurance company
pay for food spoilage? Answer It depends.
Usually the insurance company will pay if damage
to your premises interrupted your electrical
service, but they will not pay if the spoilage
was caused by a general power outage.
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State, Federal, Charitable Agency Contact
Information

• FEMA Disaster Assistance 1-800-621-3362 /
  1-800-462-7585 (TTY)
• National Flood Insurance Program [phone]
• Louisiana Department of Insurance 1-800-259-5300
  or 1-800-259-5301 and [phone] or (225)
  342-0895
• Mississippi Department of Insurance
  1-800-562-2957 or 601-359-3569
• Alabama Department of Insurance 334-269-3550
• Charitable organizations recommended by the
  Federal Emergency Management Agency (FEMA)
• American Red Cross Disaster Relief Fund-(800)
  435-7669
• Catholic Charities, USA-[phone]
• Salvation Army-[phone]
• United Methodist Committee On Relief-(800)
  554-8583
  

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Contacting Your Insurance Company

• Most Insurance Companies Have Toll Free Telephone
  Numbers And You Can Secure Contact Information
  Through The Following Sources
• Radio
• Newspaper
• Television
• Internet