flash-1455285_1920Most of Texas and the southeastern states were hit hard in 2017 with hurricanes, floods, fires, and other disasters.  The total economic loss may exceed 200 billion dollars. How will these events affect your insurance over the next few years?  We think that is a question worth exploring.  It is important that your personal and business insurance programs be reviewed annually.  We are prepared to do just that, so please call our office today.
  • Some insurers will feel the pain of large losses due to 2017 storms. However, it is too early to know if that will affect rates.  We believe it will cause some level of rate increase in 2018.
  • Personal auto, flood, and business interruption losses were the largest areas impacted by the disasters.
  • Many Houston homeowners did not have flood insurance, as Houston was not considered a high-risk area. However, now it is, and flood insurance rates may go up.
It is important for everyone to be prepared for future disasters.  Here are a few tips for you.
  • Create a home inventory. This will help you to recover your personal property.
  • Is your policy’s replacement cost limit correct?  It is a good idea to have us, or your insurance company, help you determine the current replacement cost of your home.
  • Create an emergency food supply; enough to last a week or so.
  • Have a three to five day supply of water stored (1-2 gallons of water per person, per day).
  • Keep extra cash on hand in case banks are closed.
  • Have a few high-powered flashlights ready.
  • Keep extra batteries on hand.
  • Have a communications plan.  Consider that your family may not be together if a disaster strikes.
  • Designate a contact person, outside the area, as a check-in person for family members.
  •  Stock a first aid kit including a week’s supply of essential medicines like prescriptions, inhalers, and other crucial medical supplies.
  Since your home is your most valuable asset, you need homeowners insurance.  Homeowners insurance gives you financial protection and peace of mind if something unexpected happens to your home like a theft, fire, natural disaster, or other loss.  At J.S. Edwards and Sherlock, we offer a wide variety of homeowners’ insurance plans that are custom designed to suit your needs.  The result is an individualized policy that gives you the peace of mind and protection you need.