C F O Patronis' Weekly Rundown newsletter
DFS Homepage | Past Issues | PDF Volume 15 | Number 33 | September 10, 2018

Floridians,

The one year anniversary of Hurricane Irma making landfall in Florida serves as a reminder that we are now in the peak of hurricane season and are not in the clear. One of the major risks of a tropical storm or hurricane is flooding. Floods have cost the state over $5.1 billion in the last 40 years, and you should take every step to protect yourself and your property from catastrophe. Whether it be one inch or one foot of water, flood damage is extremely expensive and flood insurance can help you avoid costly out-of-pocket expenses.

Here are some of the top flood & insurance tips for Florida residents and businesses:

  1. Purchase Flood Insurance. National Flood Insurance Program (NFIP) policies or even private policies can be purchased through your homeowners or renters insurance agent. Flood insurance policies take 30 days to go into effect. It’s still a good investment as hurricane season lasts until November 30.
  2. Snap a Photo. Take photos or video of belongings, gather receipts and write down purchase dates (if known) and serial numbers. A home inventory will make it easier to file an accurate insurance claim.
  3. Report a Claim Immediately. Report the loss to your insurance agent or your insurance company as soon as possible. Your company will assign an adjuster and the adjuster will assist you with presenting the documentation and information needed for the claim.
  4. Verify Before You Buy. Before you buy any insurance, verify the license of the agent and/or agency by calling the CFO’s Consumer Helpline toll-free at 1-877-MY-FL-CFO (1-877-693-5236).
  5. Protect Yourself from Fraud. Possible indicators of post-storm fraud include: a contractor or restoration professional who offered to waive or discount your insurance deductible, received payment and failed to provide repairs, offered repairs at a cash-only, discounted rate and failed to provide repairs, or pressured you to sign an AOB and failed to provide repairs. Floridians can report suspected insurance fraud here.

It’s imperative that you check your insurance policies today – take the weekend to do so – so you have the coverage needed and are well prepared if a storm impacts our state.

I encourage you to call 1-877-MY-FL-CFO (1-877-693-5236) if you have any insurance or hurricane prep questions.

Sincerely,

Jimmy
Jimmy Patronis
Chief Financial Officer
State of Florida

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