Courtesy of iii.org In the event of a sudden, catastrophic event, you may have just minutes to gather your family and get out of your house—possibly for good. What would you take? Where would you go? Planning ahead for the worst can help minimize the impact of a tragedy and may even save lives. This five-step plan can help get you and your family on the road to safety. Some of this information is also covered in the I.I.I.'s Know Your Plan app. Check it out for preparedness tips, handy checklists (including ones you can personalize yourself) and evacuation planning advice to cover a variety of disasters. It's a great tool to help get you and your family—including pets—organized and ready to act more quickly if an emergency strikes. For your evacuation planning: 1. Arrange your evacuation ahead of time Don't wait until the last minute to plan your evacuation. Identify where you can go in the event of an evacuation. Try to have more than one option: the home of a …
Insurance
Student Loss and Your Family
Courtesy of iii.org With burglaries constituting approximately 50 percent of all on-campus crimes, it's important for college students and their parents take steps to prevent theft, adhere to safety measures—and review their insurance coverage. Campus coverage basics It's best to consult your insurance professional for the details of your family's specific coverage and where you might need additional protections, but here are some general guidelines: Students who live in a dorm are covered under their parents' standard homeowners insurance policies – That is, their possessions are protected by "off premise" coverage. However, some homeowners policies may limit this amount of insurance, so make sure you understand your own policy. Students who live off campus are likely not covered by their parents’ homeowners policy – Your insurance professional can tell you whether your homeowners or renters policy extends to off-campus living situations. If it does not, to …
Are You Prepared for A Hurricane?
Courtesy of iii.org Florida accounted for 13 percent of all U.S. insured catastrophe losses from 1987 to 2016: $70.8 billion out of $364.3 billion, based on data from the PCS division of ISO. (Adjusted for inflation by ISO using the GDP implicit price deflator.) Six of the 10 costliest hurricanes in U.S. history have impacted Florida. Four of these storms occurred within just two years: 2004 and 2005. (See chart.) The costliest hurricane, based on insured property losses to Florida, was 1992’s Hurricane Andrew. It caused $25.4 billion in damage to Florida and Louisiana (in 2018 dollars). (See chart.) Standard homeowners policies typically do not cover flood damage. Flood insurance is covered by the federally managed National Flood Insurance Program, but private flood insurance is becoming increasingly available. Florida leads the nation in the number of flood policies, according to the National Flood Insurance Program, with about 1.8 million policies in force in …