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Are you disaster ready? Antone P. Braga, an insurance insider thinks the overwhelming answer is, "No."
"The millions of people who survive disasters each year such as hurricane, earthquake, tornado, flood, and fire, usually carry insurance, but they generally have no idea what they have coming, even after asking around. Just what should they expect, and how do they conceive their damage claims or partake in the process? Nearly everyone has been left out of the loop," Braga said.
"When it comes to disasters there is nothing more fundamental than the elements of recovery. Policyholders have had plenty of authority within the insurance contract to enable a fair settlement. It is more a matter of knowing one's authority and how to implement it that escapes notice. That in itself is a rather large problem. However, there is an even larger problem: an ongoing process to negate policyholder authority by removing wording in some policies.
It is important for insurance consumers to have an idea how to determine what they are entitled to under their property insurance policies (home, business, auto, boat, etc.). Policyholders are entitled to have an understanding in terms of fundamental adjusting principles, rights, and rules that show what to expect in case of loss--the nuts and bolts of insurance consumer protection. There is no reasonable argument against the policyholder having equal information as the company. No one can very well argue that a policyholder in good standing is any less legitimate than the company itself.
What do you expect in case of an insured loss? Who cares? Who has disaster preparedness/
