TODAY   |  October 30, 2012

Storm insurance: Is your home covered?

As homeowners start to assess the water and wind damage to their properties after Hurricane Sandy, they’ll need to know the ins and outs of their insurance. Robert Hartwig of the Insurance Information Institute has tips on navigating your storm coverage.

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This content comes from Closed Captioning that was broadcast along with this program.

>>> back now with more of our storm coverage, and we're just beginning to see the full extent of the damage, but when all is said and done, it could be one of the costliest natural disasters in u.s. history , so what should you do if your home is damaged? robert hartwig is the president of the insurance information institute . to you. bob, good morn

>> good morning.

>> first thing to know, if you have homeowners insurance , that doesn't necessarily mean it covers flooding?

>> that's right. your typical homeowners insurance policy does not cover flooding. most people who live in the most flood-prone areas will have a policy through the national flood insurance program .

>> needless to say, if you have damage, it's too late to call your insurance company now and try to get that coverage.

>> well, yes, it's after the fact. what we're going to want to do inspect your property this morning. go out and stake a look. if you've got damage, document it. take photographs and then call your agent or insurance company right away, and the claim process will begin.

>> you say call the appointment to get an adjustor to come out. how soon is it reasonable to expect an adjustor to be able to come out and inspect the premises?

>> all the major insurers have inspectors marshalled into the area. they will be moving into the affected areas today and throughout the rest of the week.

>> after you speak to the adjustor, the next tip is get a trusted contractor. that's surprising. it's not the insurance company that finds the contractor. have you to do it?

>> that's right. you can work with a contractor you have familiarity with, your neighbors have used, have you used, go with someone you trust. may need an estimate or two but use that contractor you've used in the past.

>> how do you know if your insurance is goingywn to be able to cover all of the damage?

>> well, wind damage from hurricanes is covered by homeowners insurance , and fortunately we don't see many homes that are completely destroyed here, and people should have ample coverage for that. if you're in a flood-prone area, in coastal new jersey, you should have the flood policy in place.

>> hopefully they will find out this morning indeed they do. thank you for the information this morning. thank you.