Bracing for Bad Weather and CT Homeowners Insurance

Bracing for Bad Weather and CT Homeowners Insurance

It’s something of an annual occurrence, and concern, for Connecticut residents: when is the next major storm going to threaten to destroy our town? In recent years there have been stories of families surviving for a week or more without power, then waiting for the storm to pass so they can begin the process of filing a claim with their CT homeowners insurance agent and getting their lives back to some semblance of “normal”.


Insurance companies understand the plight of their clients, and work hard to process these claims as quickly as possible, and they must diligently answer all types of questions raised by families experiencing their first claim and trying to navigate through the process to a satisfactory resolution. Questions many homeowners need answers to include the following:


  1. Is there enough coverage to fix the house?


It’s an unfortunate fact that many homeowners fail to purchase adequate coverage until after a major weather event, or a fire. Speaking to an agent who specializes in homeowners coverage can help with the decision of how much insurance will satisfy any event that could potentially require rebuilding the house from scratch. Most people understand the need to select a coverage limit based on the cost to build (not buy), but few know what their limits are, or if they currently have the appropriate amount.


Those covered by standard insurers were intrigued by the fact that specialist insurers typically offer guaranteed replacement cost (GRC), or at least extended replacement cost with generous coverage extensions in higher risk areas, to help ensure a home can be rebuilt when the cost to do so may exceed policy limits, something that is more likely to occur when demand surges following a massive storm.


  1. What if a homeowner decides not to rebuild at the same location?


This is a very good question. We suggest finding an insurer that will allow their clients the option to receive a cash settlement up to the policy limit, rather than force them to rebuild in a place that is highly likely to sustain damage again when they prefer to live in a less volatile area.


  1. Is a finished basement still covered if a sump pump fails?


Many Connecticut residents have a basement, many of which are finished, some perhaps elaborately so. While floods require a separate policy, some standard insurers may provide only limited coverage for the backup of sewers and drains.


Speak to an agent familiar with CT homeowners insurance that can suggest providers that offer more coverage, typically up to the coverage A limit that applies in many situations, including sump pump failure.


photo credit: Clarkston SCAMP cc
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