Expert warns insurance claims after Ian could take longer than expected
"When the tree hit, it sounded like a bomb went off," said Luke Ferrata.
The Ferrata family was waiting out the storm in their home they've rented for five years. They had cooked dinner right before their power went out around 6:30 p.m. After turning on the generator to watch some TV, the family gathered on the couch together.
"It's heartbreaking," said Devon Ferrata. "Because we knew it was going to happen and then, it actually happening."
They've been worried about the old oak in their front yard for as long as they've lived at the property. So much so that the couple moved a mattress into the front room, assuming the tree may fall into the main bedroom.
It fell right into the living room, where they were all seated.
"Trying to protect my family, trying to get out of there, trying to figure out where we're going to go, what we're going to do," said Devon. "I mean, in a situation like that, a thousand things kind of race through your mind."
Thankfully, Luke always likes to have more than enough insurance.
"I immediately called my insurance company," Luke said. "I filed a claim for the boat and the house to let them know that, 'Hey, it is damaged.' I want to get the process started."
It's a good thing he did — claims might take a while right now.
"Because of how many claims are going to be happening all at the same time, and because of the supply chain challenges in the United States right now, I would expect the timeline to rebuild to be longer than most people would hope," said Trevor Burgess.
The CEO of Neptune Flood Insurance said new Floridians might think they're covered for certain accidents, like floods, when they aren't.
"One of the largest misunderstandings about insurance is that people think that their homeowners' policy or their renters' policy is going to cover the risk of flooding," Burgess explained. "It doesn't."
Burgess also warned against scam artists taking advantage of you.
"You should really watch out for people who are approaching you to help you file a claim," Burgess said. "It's your job, as part of your insurance contract, to contact your insurance company directly or your licensed insurance agent who sold you that policy."
While the Ferratas are covered — Luke has boat insurance too for the parts of the tree that smashed his speeder — they do have to pay out of pocket for any expenses and get that reimbursed.
"I don't know how many people just have money lying around like that," Devon said.


FinTech in Insurance Market Set for Explosive Growth : Root Insurance, American Well, Corvus Insurance, Kin Insurance
Business Health Insurance Market to See Huge Growth by 2027 : Aviva, Assicurazioni Generali, Cardinal Health
Advisor News
- Demonstrating the value of life insurance to Gen Z
- Poor money habits are a dealbreaker in a new relationship
- DC plan sponsors see opportunity in alternatives
- The American Dream: Redefined as financial stability
- Partial annuitization: How advisors can help clients balance income, growth
More Advisor NewsAnnuity News
- CA judge certifies class action in teachers’ lawsuit over in-plan annuity fees
- Globe Life Inc. (NYSE: GL) Records 52-Week High Thursday Morning
- AM Best Managing Director Joins ‘Target Topics’ Podcast to Discuss State of Delegated Underwriting Authority Enterprises Market
- KBRA Assigns Rating to TruSpire Retirement Insurance Company
- Partial annuitization: How advisors can help clients balance income, growth
More Annuity NewsHealth/Employee Benefits News
- New Arizona law provides clarity regarding firefighters’ health insurance
- Mid-year benefits review: What employers miss before renewal
- Downstream effects of federal cuts seen in Kansas budget, access to healthcare, food assistance
- REP. SUMMER LEE JOINS EDUCATION AND WORKFORCE DEMS IN INTRODUCING BILLS TO PROTECT AMERICANS FROM WRONGFUL HEALTH CLAIM DENIALS
- ICYMI: HOSPITAL CLOSURES AND DATA CENTERS PUT ASSEMBLY DISTRICT 92 IN THE SPOTLIGHT
More Health/Employee Benefits NewsLife Insurance News
- Globe Life Inc. (NYSE: GL) Records 52-Week High Thursday Morning
- AM Best Upgrades Credit Ratings of Sagicor Financial Company Ltd. and Most of Its Subsidiaries
- Trust, technology and the future of claims
- New York Life Launches an Indemnity Benefit for its Asset Flex Long-Term Care Insurance Solution
- AM Best Affirms Credit Ratings of DB Insurance Co., Ltd.
More Life Insurance News