Natural disasters cause significant damage in both Iowa and Nebraska
Insurance companies in Iowa and Nebraska are beginning to field claims in the wake of major hailstorms that occurred in both states. The storms caused major damage to vehicles and property in Iowa and Nebraska, generating thousands of claims that has caused large insurance companies like State Farm to make “staffing adjustments.” The number of claims that insurance companies have received has not yet been revealed. The actual cost of the natural disasters in both states is still being assessed.
Insurers mobilize to address damage caused to properties and vehicles
In Iowa, powerful winds and large hailstones battered homes and vehicles. Winds were strong enough to uproot trees, sending them hurtling into houses and causing significant damage. Hail and flooding also caused significant damage to homes and vehicles. Similar events in Nebraska also caused problems that the state’s insurers must are mobilizing to manage effectively. Homeowners insurance and auto insurance policies differ when it comes to damage caused by natural disasters. Those with homeowners insurance are being advised to check their policies in order to understand what is covered. While damage caused by hailstorms is often covered by property insurance, flood damage is not.
_________________________Random Quotes to Remember ~ “The best investment is in the tools of one’s own trade.” – Benjamin Franklin
State Farm warns policyholders to beware of fraud in the wake of natural disasters
State Farm, which is the largest insurer of properties and vehicles in both states, suggests that homeowners make temporary repairs to their properties in order to avoid any further environmental damage. The insurer notes that homeowner’s making temporary repairs should keep receipts for all purchases they make in relation to this effort in order to make the claims process easier. The insurer is also warning consumers to beware of fraud coming from those posing as insurance representatives or private contractors. In the wake of natural disasters, fraud becomes much more prevalent and can be a very costly matter to deal with.
Total cost of disasters in both states is still being assessed by insurance companies and state officials
The cost of the disasters in Nebraska and Iowa is still be calculated. A Nebraska courthouse suffered some $1.2 million in damage from heavy rainfall and hail, however, and similar occurrences have been reported in Iowa. Insurers note that the damage seen from these disasters falls in line with their expectations when it comes to severe hailstorms and many expect claims to be handled quickly and effectively.