Necessary Information Regarding Legal Notice For Harvey Claims
Generally, a flood insurance policy only covers cases where water rises up from the ground and seeps into a home or building. Most flood policies are written with the help of insurance companies, and these policies are part of the NFIP (National Flood Insurance Program), which is part of FEMA. Moreover, not everyone has flood insurance. Statistics show that more than 85% of Houston homeowners have no flood insurance.
If you live in an area which is prone to floods or has experienced flood damage, like most of Houston, then your mortgage company will require flood insurance. However, if you do not live in a flood prone area, then having flood insurance is completely voluntary. You are also limited in what you can buy when it comes to flood insurance in this case. In case you are affected by flood, you have to file the claim right away and give your insurance company proof of loss within 60 days of the loss. In case of major natural disasters, the proof of loss date is often extended by FEMA. However, it is not advised to count on it. It is advised that you contact an insurance attorney right away to understand the flood claims process.
How to provide notice of a wind claim?
The insurance policy of a standard homeowner may cover different natural disasters, including wind damage and damage from tropical storms and hurricanes. In case water enters the house due to damage caused by a storm or hurricane, then the basic policy should cover the damage. Under the new Texas law, a wind loss claim is subject to the September 1, 2017 time considerations. Claimants are required to file the wind claim loss in writing before Friday, September 1, 2017 in order to avoid the 45% reduction in the interest rate.
Cases where there is both wind and flood damage
If you are not sure what actually caused the damage, or if there is both wind and flood damage, then you will give notice of both claims. In most such cases, a specialist or engineer helps determine the actual cause of damage. Apart from wind and flood, the damage could have been caused due to wear and tear, or manufacturing defects. Whatever the case, be sure to provide notice to both your flood insurer as well as your wind insurer.
Why the change in Texas law?
A number of reasons actually led to the change in Texas law, the most obvious one being that the authors and sponsors of the new law, including state representatives and senators, come from districts that have been heavily impacted by Hurricane Harvey. These are the people who overreached and overcorrected a perceived problem and helped the insurance industry grab and take liberties with Texas.