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Gregor McGavin Online Auto Insurance Rancho Cucamonga CA, 91730 9097842475 |
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OAI advises auto owners wanting to protect their investment from natural disasters like tornadoes to consider purchasing comprehensive coverage.
Online PR News – 02-December-2011 –This week’s announcement that insurers have settled more than $2 million in claims filed by Minnesota car insurance policyholders after a May tornado underscores the importance of being financially protected against weather-related losses, according to Online Auto Insurance (OAI).
Those settlements are part of more than $60 million the state Department of Commerce says has been paid out on all types of policies to residents who suffered damage to their vehicles, homes and other property.
Federal safety officials say the tornado was part of a series of twisters that swept through the Midwest and South in late may, killing more than 175 people and causing more than $6 billion in insured losses.
Source: http://www.ncdc.noaa.gov/oa/reports/billionz.html
But while recovering from such a natural disaster is difficult enough for those with coverage that can reimburse them for damaged or destroyed property, OAI points out that it is even tougher for those who are not financially protected against such losses.
Standard business and homeowner policies will cover the cost of damage done by wind, including that caused by tornadoes. But consumers are only protected against similar damage to their vehicles if they have auto policies that include comprehensive coverage, the only type that protects against damage from fires, flooding, tornadoes and other severe weather events.
Because tornadoes and other catastrophic weather events can strike with little warning in many parts of the country, OAI encourages consumers nationwide to review their vehicle coverage for cars and trucks that are relatively new or otherwise valuable and make sure it includes comprehensive coverage.
Comprehensive, which is optional, will cost a little bit more than bare-bones liability coverage, and it’s only required as part of a loan agreement. But it’s the only way to rest assured you will be reimbursed for damage to your car.
Minnesota regulators say coverage providers have settled about 80 percent of claims filed in the aftermath of the May tornado.
To read more about this and other safety and car insurance issues, go to http://www.onlineautoinsurance.com/minnesota/ where you will find more information about the details of coverage in Minnesota.
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