Following a disaster like Hurricane Laura, it is not uncommon for policyholders to not have a full copy of their insurance policy. Often, the only insurance document they can have in their statement page is a summary of the insurance benefits available to them. Although helpful, full insurance is necessary to inform policyholders about their rights and obligations under the insurance policy. The following is a typical liability after loss: 1
SECTION I – TERMS
B. Customs after loss
In the event of loss of covered property, we have no obligation to provide coverage under this policy if failure to comply with the following obligations affects us. These tasks must be performed either by you, an "insured" seeking cover, or by a representative of either:
1. Notify us or our agent immediately;
2. Notify the police in case of loss of theft.
3. Report the credit card or electronic fund transfer card or access company in case of loss according to E.6. Credit cards, electronic transfer cards or access devices, counterfeiting and counterfeit money according to section I – property protection;
4. Protect the property from further damage. If repair of the property is required, you must:
a. Make reasonable and necessary repairs to protect the property; and
b. Keep accurate records of repair costs;
5. Collaborate with us in the investigation of a claim;
6. Prepare an inventory of damaged personal property that shows quantity, description, actual cash value and loss amount. Attach all invoices, receipts and related documents that justify the figures in the inventory;
7. As often as we reasonably require:
a. View the damaged property;
b. Provide us with records and documents that we request and allow us to make copies; and
c. Submit the examination under oath, but not in the presence of another "insured", and sign it;
8. Send to us, within 60 days of our request, your signed, sworn proof of loss showing, as far as you know and believe:
a. Time and cause of loss;
b. Interests of all "insured" and all others in the property concerned and all liens on the property;
c. Other insurance that may cover the loss;
d. Changes in the property's property or occupancy during the insurance period;
e. Specifications for damaged buildings and detailed repair estimates;
f. The inventory of damaged personal property described in 6. above;
g. Receipts for additional living costs incurred and registers that support the loss of fair rental value; and
h. Evidence or confirmation supporting a claim under E.6. Credit card, electronic transfer card or access device, counterfeiting and counterfeit money according to section I – coverage of property, indicating the amount and reason for the loss.
Louisiana policyholders have the right to request a complete copy of their insurance, including all forms and endorsements:
(16) Policyholders have the right to a legible insurance, to obtain a full property insurance and to request a duplicate or replacement policy if necessary . 2
Policyholder Recovery from Hurricane Laura should immediately request a copy of her full insurance from her agent or insurance company. The insurance provides important information needed to ensure compliance with the duties after a loss and will also provide guidance on how the various aspects of their insurance claims should be presented to their carriers. Insurance is one of the most difficult contracts to understand and these trial periods do not make it any easier. We are happy to help you understand your coverage, rights and obligations according to your policy. God bless you in your recovery.
1 Bankers Specialty Insurance Company, BSIC17.506 0215, Homeowner 3 – Special Form.
2 La. Reef. State. §22: 41 (16). The policyholder's certificate of entitlement.