FOR IMMEDIATE RELEASE
Ìý
NEW YORK, December 20, 2013 — Ice, snow and other wintry conditions are expect to wreak havoc over the next few days in parts of the Plains, the Midwest, and parts of the Northeast. Reporters with questions about insurance coverage can contact the
Insurance Information Institute (I.I.I.).
Ìý
Billed as Winter Storm Gemini by The Weather Channel, it is their seventh named winter storm of the 2013-14 season.
Ìý
Winter storms accounted for 7 percent of all insured catastrophe losses between 1993 and 2012, placing it third behind hurricanes and tropical storms (40 percent) and tornadoes (36 percent) as the costliest natural disasters.
Ìý
The I.I.I. offers the following information on insurance coverage for winter storms.
Ìý
Auto Insurance Policies
- Property damage liability coverage pays for damage you (or someone driving the car with your permission) may cause to someone else’s property caused by ice, snow and slippery roads. Usually, this means damage to other cars, but it also includes damage to lamp posts, telephone poles, fences, buildings or other structures your car may hit.
- Collision coverage pays for damage to your car resulting from a collision with another car, object or as a result of flipping over. It also covers damage caused by potholes.
- Physical damage to a car caused by heavy wind, flooding, fallen ice or tree limbs is covered under the optional comprehensive portion of an auto policy.Ìý
Ìý
Homeowners Insurance Policies
- Wind-related damage to a house, its roof, its contents and other insured structures on the property is covered under standard homeowners insurance policies. Wind-driven snow, sleet or rain that causes an opening in the roof or wall and enters through this opening is also covered.
- Freezing conditions such as burst pipes or ice dams—a condition where water is unable to drain properly through the gutters and seeps into a house causing damage to ceilings and walls—is covered. However, there is generally a requirement that the homeowner has taken reasonable steps to prevent these losses by keeping the house warm and properly maintaining pipes, drains and gutters.
- Melting snow that seeps into a home from the ground up is considered flooding and would be covered by flood insurance, which is provided by the and a few private insurers. Flood insurance is available to both homeowners and renters. This type of damage is not covered by standard homeowners or renters insurance policies.Ìý
Reporters can contact the following I.I.I. insurance experts for information or interviews:
- Dr. Robert Hartwig, President and Economist: 917-453-1885 (cell); bobh@iii.orgÌý
- Jeanne M. Salvatore, Senior Vice President and Consumer Spokesperson: 917-612-4088 (cell); jeannes@iii.org
- Michael Barry, Vice President, Media Relations: 917-923-8245 (cell); michaelb@iii.orgÌý
- Loretta Worters, Vice President, Communications: 917-620-0982 (cell); lorettaw@iii.orgÌýÌý
Ìý
The I.I.I.’s free mobile apps can help you create a disaster plan, learn about selecting the right insurance for your needs and budget, and create and maintain a home inventory. Learn more about our suite of apps here.
Ìý
The I.I.I. has a full library of educational videos on its . Information about I.I.I. mobile apps can be found here.
Ìý
Ìý
THE I.I.I. IS A NONPROFIT, COMMUNICATIONS ORGANIZATION SUPPORTED BY THE INSURANCE INDUSTRY.
Ìý
Insurance Information Institute, 110 William Street, New York, NY 10038; (212) 346-5500;