The Duncan Banner

Business

January 30, 2010

A little policy goes a long way in disasters

disasters can cost homeowners

DUNCAN — With the sudden ice storm impacting the area, people may soon be noticing damage to their homes from tree branches falling onto their roofs or on fences.

Whitten Insurance Agent Steve Whitten said that there are two different types of policies of insurance that one can buy for their home. The peril policy is the first type of coverage and it is the basic policy coverage. This coverage includes such things as fire, lightning, wind, hail, aircraft damage, riot damage, vehicular damage, smoke, explosion and vandalism.

“This is the most common type of insurance policy that people will purchase,” Whitten said. “It is the most common because most of the disasters that it will cover could happen.”

Another type of insurance policy is the all-risk policy. With this policy insurance buyers will pay all direct for physical loss. Exclusions to the policy is nuclear, war, flood and business pursuits.

Whitten said that the snow storm in December and the recent ice storm would be covered with the all-risk policy.

“If there becomes a build up of ice or snow on your roof that will cause the roof to cave in, with the all-risk insurance policy, you will be covered,” Whitten said.

He said that that policy may or may not cover damage if a tree branch froze over and landed on your roof.

“Vegetation usually is not covered however there sometimes will be exceptions to the rule,” Whitten said.

With the recent earthquakes in Haiti and a few that have happened in Oklahoma, earthquake insurance may be something that people could consider. However, State Farm Insurance Agent Don Creel said that there has not been much request for earthquake insurance in the area.

“We haven’t really had anyone requesting earthquake insurance,” Creel said. “The earthquakes that have occurred around here recently haven’t done much damage so there hasn’t been a real need for it.”

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