SCC: Protect Your Summer Fun by Reviewing Your Insurance

For many, summer means vacation, travel and fun in the sun, but it also ushers in a variety of risks. Think pool and boating accidents, home break-ins, vehicle thefts, travel disruptions and severe weather threats.

Whatever your plans this summer, the State Corporation Commission's Bureau of Insurance reminds Virginians to review their insurance to make sure they have the coverage they need in the event of an illness, theft or mishap.

"Whether you're grilling with friends, traveling or boating, don't let a lack of insurance coverage pull the plug on your summer fun," said Virginia Insurance Commissioner Scott A. White. "Protect yourself and your loved ones, homes, vehicles and belongings by anticipating summer hazards and ensuring your insurance coverage is adequate and up to date."

Know your coverage
Understand how much coverage your auto and homeowners insurance policies provide and any exclusions from coverage. Know your coverage limits and determine whether you need additional insurance before you have a medical emergency, are the victim of theft, have a guest injured on your property or suffer home or vehicle damage due to severe weather. Understand your insurance deductibles and how to file a claim.

Create a home inventory
Create and regularly review an inventory of your home's belongings. This can help ensure your homeowners or renters policy provides enough coverage for your belongings. Keep in mind that separate coverage may be needed for high-value items such as jewelry, art or electronics.

A home inventory also can help facilitate the claims process if damage or theft occurs. The National Association of Insurance Commissioners' (NAIC) free smartphone app - NAIC Home Inventory - makes creating a home inventory quick and easy.

Swimming pools
Homeowners policies will typically provide "other structures" coverage for in- or above-ground permanent pools. Smaller non-secured pools are typically protected by personal property coverage. Contact your insurance company or agent to confirm what your policy will cover.

Severe weather threats
Protect yourself and your property physically and financially against severe summer weather. Keep in mind that standard homeowners, renters and commercial insurance policies typically do not cover damage to your home and belongings caused by floods, surface water or storm surge. The federal government offers insurance covering direct flood and flood-related damage to homeowners, renters and businesses in eligible communities through its National Flood Insurance Program (NFIP). In most cases, there is a 30-day waiting period before a new flood insurance policy takes effect. To learn more about this program, contact your insurance agent or the NFIP at 877-336-2627 or visit floodsmart.gov.

Some private insurers offer flood policies, so check with your insurance agent or company about coverage options. Ask whether your flood policy also provides coverage for damage to your personal property.

Travel considerations
If your summer plans include travel, understand your health insurance coverage in case you require medical treatment in an urgent care facility or hospital while traveling out-of-state or abroad. Bring health insurance information with you on your trip - including identification cards and emergency contact information.

Before you purchase a travel insurance policy, read the policy and disclosures regarding exclusions or optional buybacks for pre-existing conditions.

Autos and RVs
Before hitting the road make sure you have the auto coverage you need. Check your liability limits to ensure adequate protection against personal injury or property damage in the event of an accident. Keep your insurance company's contact information and a copy of your insurance card with you when you drive and know what to do if an accident occurs.

Recreational vehicle (RV) insurance covers risks similar to auto insurance including collision, comprehensive and liability coverage. You may require additional coverage for personal belongings on board, equipment and attached accessories such as awnings and satellite dishes.

Boats and other watercraft 
Review your insurance coverage before getting out on the water. Policy coverage on boats includes collision, property damage liability, bodily injury liability and comprehensive. Additional coverage options available include medical payments, personal property, roadside assistance, damage and injuries suffered in accidents caused by uninsured or underinsured boaters. Personal watercraft may require separate coverage. Depending on the size, type and value, some watercraft may even be covered as part of your homeowners policy.

For more information about these and other insurance-related topics, contact the Virginia Bureau of Insurance in Richmond at 804-371-9741 or toll-free at 877-310-6560 or visit its website.

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Contact: Katha Treanor, 804-371-9141

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