News Articles For Your Information - Joe Janssen Insurance

State Department of Insurance Offers Tips for Individuals Affected by Recent Storms
Director of Insurance, Tim Wagner, announced today that Department of Insurance staff is available to answer storm-related questions. The following tips are offered for individuals affected by recent storms:

If your property has been damaged, notify your agent or your insurance company immediately. If you are unable to locate a phone number, the Department of Insurance can provide phone numbers for claims offices.

Take action to prevent further damage, but don't make extensive permanent repairs until the claims adjuster has been to your home. Don't dispose of damaged property until told to do so by your adjuster.

If you need to relocate, keep receipts for your temporary living expenses.

Prepare for the adjuster's visit by itemizing your damaged possessions. Provide as much information about the item including an estimate of what it would cost to replace or repair it.

Keep copies of the documentation submitted to the adjuster.

Homeowners insurance policies usually don't cover flood damage. If you have flood insurance through the National Flood Insurance Program, your adjuster may be able to assist you in coordinating your claim. Additional information may be obtained from the Department of Insurance web site at www.doi.ne.gov or you may call the Department's toll-free consumer hotline at 1-877-564-7323.

Reprinted with permission of the Nebraska Dept of Insurance

Florida hurricanes
Remember after the hurricanes in Flordia we told you that insurance companies are finding that homes were under insured because of the increasing cost of building materials? We just received some information that we found very interesting. Marshall & Swift/ Boechkh, a leading company used by the insurance industry nationwide to determine replacement cost of both residential and commercial building, have issued their inflation estimates for 2005.

Here are some of the more radical changes since 2003:

Plywood 78%
re-bar 55%
Steel Studs 51%
Structural steel 42%
Lumber 19%
Drywall 10%.

Remember these figures are nation-wide and locally they may be off some.

~~September is Life Insurance Awareness Month

Nationally, recent studies show that roughly 50 million Americans lack the life insurance coverage needed to help ensure a secure financial future for their loved ones.
Only 41 percent of adult Americans have individual life insurance. Many rely on group insurance through their employers, leaving many of the employees vulnerable if they lose a job.
When a premature death occurs, insufficient life insurance coverage on the part of the insured results in three-fourths of surviving family members having to take measures such as work additional jobs or longer hours, borrow money, withdraw money from savings and investment accounts, and, in too many cases, move to smaller, less expensive housing.

People need to learn more about the benefits of life insurance, so that if a premature death of a loved one does occur, the family will be spared the economic hardships that too often accompany this type of tragedy

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