Are you prepared for the next unpredictable storm. Insurers’ Financial Group

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Sept, 2005 – Late summer torrential rains in GTA are becoming as frequent and predictable as the U.S. hurricane season. The Peterborough flooding in summer 2004 and the most recent August rainstorm indicate that catastrophic losses are inevitable.

Understanding what to do after a loss (individual or catastrophic) begins with developing a disaster recovery response before a loss. Proactive measures need to be taken to protect life and property whether or not a loss is covered by insurance.

For catastrophic losses, claims adjusting can be frustrated as insurance industry resources are pushed to the limit. You will need to take some action on your own.

Here is what you can do…

P ROTECTING YOUR FAMILY COMES FIRST:

  • When indoors, move to the upper levels of your home supplied with a battery operated radio and flashlights

  • Electricity should be turned off as well as the outside gas valve. When outdoors, move to higher ground avoiding flood waters – even 15cm of fast moving water can sweep you off your feet

  • According to the Institute for Catastrophic Loss Reduction (ICLR), as little as 60 cm of water can carry a car away.

  • Stay out of your car. Park your car at the most elevated point possible

IF YOUR HOME OR BUSINESS HAS BEEN FLOODED:

  • Do NOT touch electrical wires, appliances or devices

  • Prepare an inventory of what has been lost or damaged after separating damaged property from undamaged property

  • All damaged property should be photographed

  • Receipts should be kept for any clean up costs incurred (ie. Shop vac rentals, cleaning supplies, etc.)

  • Contact your independent insurance broker or your insurance company to report any damage

TO PROTECT YOUR HOME IN THE FUTURE:

  • All personal belongings stored in the basement should be raised off the floor to prevent water damage

  • Main circuit breaker or fuse box should be 2 meters above flood level in your area. Consult with a licensed electrician and comply with local building code if the box needs to be moved

  • Backflow valves or backflow prevention device should be installed to prevent sewer backups (check with local building codes for further information)

  • If floor is below ground level, a sump pump should be installed

  • If eaves trough downspouts are connected to weeping tile system, disconnect them

  • Make sure there is proper drainage around your home

WHAT DO YOU THINK? ARE YOU PREPARED FOR THE NEXT UNPREDICTABLE STORM?

Insurers Financial Group

The Insurers Financial Group (IFG) was founded on four core values – integrity, respect, innovation and action – and they have served us well. A large part of our success can be attributed to our continuing commitment to client satisfaction. Whether it’s as simple as insuring your home and automobile, or as complicated as specialized business insurance, or estate planning, we have the experience and expertise to customize a program to meet your needs. We’re proud to be building IFG on solid foundations. See for yourself what we have to offer. Check out our web site at http://www.ifgcanada.com.