RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

Homeowners Insurance Lessons 10 Years after Katrina

August 27, 2015 12:24 am

Ten years after the costliest hurricane in U.S. history, Hurricane Katrina is being remembered for its devastating toll on residents in six coastal states. Insured losses totaled over $41 billion and underscored the importance of recognizing the risk of and planning for natural disasters, according to the Insurance Information Institute (I.I.I.).

The following four key lessons from Hurricane Katrina can help homeowners build a preparedness mindset that will stand as a defense against severe weather threats.

1. Consider Purchasing a Flood Insurance Policy

A key lesson learned from Katrina was that neither a home nor a renters insurance policy covers flood damage. Yet, according to a recent I.I.I. poll, only 13 percent of American homeowners have a flood insurance policy.

Since 1968, flood coverage has been available from the National Flood Insurance Program (NFIP). It is also sold by some private insurers. Talk to your insurance professional to make sure you have enough insurance to replace your personal possessions and rebuild your home.

The maximum amount of NFIP coverage available to homeowners is $250,000 for the home and $100,000 for the home’s contents. For higher coverage levels, ask about excess flood insurance from private insurance companies.

2. Keep an Up-to-Date Home Inventory

An inventory of personal possessions makes it simpler to purchase the right amount of coverage, as well as making the claims filing process easier and more accurate. It can also be helpful when filing for financial assistance after a disaster.

3. Have an Evacuation Plan

In the event of a disaster, there may be only hours to evacuate. In order for an evacuation to go smoothly when a storm is imminent, it is important to plan and practice in advance. Have emergency supplies, including medicines, extra clothing, comfort items and important papers gathered and ready to go. Knowing where to evacuate to and the planned route is equally important. And be sure to take into account any special accommodations that need to be made for elderly relatives, a family member with special needs or pets.

4. Take Steps to Protect Property

Strengthening the roof, windows, doors and protecting all openings are important steps in safeguarding both the structure of a house and its occupants.

Source: I.I.I.

Published with permission from RISMedia.


Are You a "Metro Mover"?

August 27, 2015 12:24 am

According to Census data, nearly 20 percent of all movers in the United States and Puerto Rico, or about 8.5 million people, have moved to a different metropolitan area in the last year. These “metro movers” are relocating from metro area to metro area, with the majority moving between metros within the United States. A fraction of movers–approximately 25,000–moved from a metro area in the United States to a metro area in Puerto Rico.

Movers relocating between the metro areas of Los Angeles and Riverside, Calif. and the metro areas of New York and Philadelphia were among the largest migration flows.

“Nine of the top 10 metro migration flows were moves to nearby metro areas, with the largest flow of about 90,000 moving from the Los Angeles metro to the Riverside metro area,” says Kin Koerber, a demographer with the Census Bureau’s Journey-to-Work and Migration Statistics Branch. “Movers who left the New York City metro area for the Miami metro area were the exception, with about 22,000 people making this move.”

According to the data, just over five percent of the U.S. population, or 16.7 million people, now live in a different county within the U.S. than one year earlier.

Source: U.S. Census Bureau

Published with permission from RISMedia.