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February - March 2018 51 boatingonthehudson.com
this, so if possible, purchase generators to avoid such
a drop in temperature in your home. Most policies will
not include coverage for the loss of the contents of your
refrigerator and/or freezer (depending on what the cause
of power loss is), but you may be able to buy this coverage
with an endorsement. However, there will be a deductible
which sometimes can be less than the deductible that
applies to all other property losses to structure and
personal property.
WIND - Your policy includes windstorm coverage,
subject to your deductible. So roof shingles, siding, patio
furniture and other outdoor items will have coverage
if damaged by wind or that a tree causes that falls due
to wind. If the wind is classified as a hurricane by the
National Weather Service then your policy might have
different deductible for this. Typically when a policy has
a separate hurricane/ wind deductible it is 2% of the
coverage limit for the structure of your home, which can by
thousands of dollars! Check your policy to see if you have
this, and if so try to get a quote from another company that
does not impose this separate deductible. Also note that
although the policy pays for the damage the tree causes,
there is usually a limit of $500.00 or $1,000.00 to have
the tree removed. Some more “deluxe” policy forms, such
as Chubb has, will pay “whatever is reasonable”, which
could be considerably more than $1,000.00 depending on
the size of the tree. Replacement cost coverage usually
applies for the repair of the structure, without depreciation
for age, but “other structures” on the premises such
as sheds, garages, fences, etc. have coverage on an
Disclaimer: This article is for informational purposes only.
Contact your own insurance company or agent for the
specifics on your own policy.
Cathy J Karas, President, Certified Insurance Counselor,
Karas Insurance Agencies Inc., 321 So Riverside Ave,
Croton-on-Hudson, NY 10520 - phone 914-271-5188,
email .
actual cash value basis, with depreciation for age taken into
consideration. Some more deluxe policies cover the “other
structures” the same as your home, on a replacement cost
basis.
PUFF BACK - Your furnace may malfunction causing
soot to be released into the air. This uncontrolled explosion
can damage painted walls, carpets, rugs, furniture and get
into your closets ruining clothing and other personal property.
These claims can be thousands of dollars also. Have a
contractor regularly check your system, particularly if it is old
to hopefully avoid this situation. Your policy should respond
to this type of claim, subject to your deductible.
SLIP AND FALL - Your policy includes bodily injury
liability insurance. What is your limit? Not only are you
responsible for your piece of property you own, but most likely
your village, town or city requires you keep the sidewalks
clear of snow and ice. Apply salt to minimize ice, which can
form long after a snowstorm through melting during the day
and refreezing at night.
Hopefully the end will be near of this winter and we will
be preparing, (at least mentally) for spring and the start of
the 2018 boating season. In this extreme cold even winter
sporting activities are hampered. I have discovered only one
benefit to the below zero temperatures during the day. You
can keep frozen food in your car for hours with no defrosting.
If anyone else can come up with any other benefits, let me
know! At Karas Insurance Agencies Inc. we have licensed
insurance brokers with many years experience to answer your
questions and provide no obligation quotes and coverage
comparisons. We are a third generation independent
insurance agency in business since 1973, representing
many companies. Stuck inside? Dig out your policies and
give us a call! In just a few minutes we can ask you the rating
information questions we need to prepare a quote the same
day for your for personal or commercial insurance. Or you
can email me at .
PUFF
BACK