HOA Insurance Tips: What Do I Do Before and After a Storm?
As severe weather season comes into play, it's time to consider what you will do if a storm hits your community. You will need to understand how to prepare for a storm and claim any insurance assistance you might need after the storm has passed.
In this post, we'll provide some helpful tips you can use to prepare your association for what to do before and after a storm.
What Should My HOA Do Before a Storm?
Make an Action Plan for Your Community
You want to ensure that your association has an action plan in place to protect the people in your community in the event of severe weather.
Whether you are preparing for severe thunderstorms (down powerlines, damaged roofs, etc.), flooding, tornadoes, hurricanes, or other types of severe weather, you want to make sure that people's lives in your community are protected first. Property can be repaired or replaced, but people's lives and well-being cannot.
Boards of directors should understand how to secure property to ensure that your community is safe and protected.
Before the first storm hits, take your time to review the following:
- go over your association's insurance coverage to understand what is covered and not covered if a severe storm damages your neighborhood or area
- document (and photograph) all community property so that you have proof to show before/after photos if any property is damaged throughout your association during a severe weather incident
- plan your costs to fix storm damage (averages) into your annual budget so there are no "surprises" that can put your HOA's budget into the red from storm damage that you didn't foresee coming
- get to know the person who is their representative from your insurance company, so if your association has damage during a storm you know who you need to reach out to for assistance
Taking these steps before severe weather hits will help you lay the groundwork to make any insurance claims that you need to make for damages caused to your community after the storm.
Knowing who to contact for assistance will make it easier to file insurance claims after the storm hits.
What Should I Do After a Storm?
After a storm, the following are some things you will need to do to start getting the compensation you deserve from the insurance company:
- get outside and evaluate any damage as soon as the storm has passed and it is safe
- call the insurance company to start filing your claim immediately before they get lots of other calls that slow down the process of getting assistance to those who need it
- document all storm damage to your properties and assets so the insurance company can begin to help you file claims and get the insurance coverage in motion for your damages to be covered
- file claims and provides all information that the insurance company requests so that you can get your requests processed
- hire a reputable contractor that can fix the damage to your property and ensure that you can trust to the vendor before signing a contract and agreeing to a price for repairs and terms of service
- record all transactions and keep records of the cost to repair your property
Staying on top of the entire procedure of understanding the repair process after a severe storm can help you know what insurance will cover and what the HOA will have to cover.
Understanding this process will help make it easier on your community association and will keep you prepared when severe weather strikes your neighborhood.
Preparing for severe weather before it hits can help you handle the different scenarios that might come up with your insurance after the storm.
Being prepared will make the process easier, and knowing who to reach out to can protect your HOA from not being able to get the financial help that you need to repair your property when the storm is over.