Deadly Tornado in Moore, Oklahoma, Prompts Swift Insurance Industry Response
Targeted News Service |
Following the devastating tornado on Monday, insurance adjusters are on the scene in
Standard homeowners (http://www.iii.org/articles/what-coverage-is-included-in-a-standard-homeowners-insurance-policy.html) and business insurance (http://www.iii.org/articles/what-does-a-businessowners-policy-cover.html) policies cover wind damage to the structure of insured buildings and their contents when caused by tornadoes or thunderstorms. Homeowners insurance policies also provide for additional living expenses (ALE). ALE coverage pays the added costs of living away from home if you cannot inhabit your house due to damage from an insured disaster. It covers hotel bills, restaurant meals and other living expenses incurred while your home is being rebuilt. "While replacing and repairing damaged properties may not be a high priority at the moment, the insurance industry will play a significant role in rebuilding
TNS hc11-130522-JF78-4358225 StaffFurigay
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