Let’s talk about insurance
So far reports about insurance are almost as positive as reports about the electricity companies!
First of all, let me just reiterate what has been said repeatedly elsewhere. The electricity companies, and the help they have received from as far away as Kansas, Texas, Utah, Arizona, New Mexico – no doubt further afield, but these are some of the license plates I have seen – have done an absolutely outstanding job. Electricity is back on in something like 60% of homes and businesses who can receive power on the coast. Having seen the damage first-hand I am stunned that they have managed to make so may repairs so quickly!
Anyway – insurance. Apparently the insurance companies have been told that if there is any kind of dispute, then they should fall on the side of the insured, not the insurance company. Also Lloyds of London have said that they are able to afford to underwrite any losses, as the insurance companies have been buying sufficient cover to pay for losses. Finally FEMA (Fedaral Emergency Association(?)) has said that they will cover losses that were not insured.
All-in-all that means most people should be able to afford to rebuild. That should also include even the poorest households, but of course we will have to wait and see to be sure.
We reported our losses to our insurance company on Wednesday. Today – Sunday – we got a call from our insurance loss adjuster who is driving to Gulfport as I type. We are going to meet him tomorrow at 10am in Gulfport to inspect the damage to that house and sort out insurance and repairs. This is fantastic news as we were about to lease the house to a young woman who has a 6-year-old daughter. She lost her current apartment and most of her belongings in the storm, so she needs a roof over her head ASAP. Fingers crossed we can get repairs sorted very quickly, although we will have to watch out carefully for all the scammers who are supposed to be preying on folk right now.