Fall storms cause major property damage each year. Raivo Piibor, head of Coop Pank’s insurance business line, explains how to protect yourself from raging winds and torrential rains and which insurance contract really helps in the event of an accident.
Preparing for a storm is very important and is also the easiest and cheapest way to protect your property. For example, loose things in the home garden, such as a trampoline, garden furniture, etc. must be properly secured or shaded, make sure the doors and windows are closed, park the car away from large trees and objects that could fall on it, and avoid storing the car in areas prone to flooding in heavy rain.
It is also worth unplugging household appliances in the event of a thunderstorm and avoiding heating the oven in strong winds. It is also worth making sure that, for example, the rain gutters are properly closed. From time to time, it is worthwhile to assess the condition of the large trees around the house yourself or to have a specialist. Trees with bent trunks or weaker branches cause tens of thousands of euros worth of damage every autumn.
However, in addition to preventing possible losses, correct damage insurance is also important, which is really helpful in the event of an accident.
Review insurance contracts and loss amounts
When buying a private house or apartment, one tends to prefer the most affordable offer, i.e. the offer that only includes basic protections. Also, if the minimum compensation amount is selected in the policy due to cost savings, there is a high probability that the insurance will not cover all the losses incurred.
It is definitely worth thinking about additional protection, because a 20-euro payment, which often seems like an unnecessary extra expense, can help compensate for damages amounting to thousands of euros. Additional protection can cover, for example, the rental costs of temporary housing, damages incurred during construction or rescue work, as well as the cost of loan or lease payments, if the building is uninhabitable after being damaged in a storm and needs to be restored.
Protect yourself from problems caused to others
It is good for house owners to know that in addition to the main building, the insurance also extends to those located on the plot up to 20 m2 for large buildings and facilities. Along with the building or apartment, it is worth reviewing the personal property insurance amount. In this way, the insurance also covers the costs incurred, for example, for a robotic lawnmower that has been standing outside and has been damaged. Before signing the contract, it would be wise to calculate whether the offered insurance covers the entire cost of replacing the property.
It is definitely worth thinking about liability insurance, which covers damages and medical expenses incurred by other people. For example, if a trampoline flies into the neighbor’s garden during a storm and breaks the greenhouse there, or the wind breaks trees in the garden that fall on the neighbor’s car, liability insurance can help.
Casco insurance covers damages to the car even in the event of a storm
It is worth remembering that motor insurance is not enough to protect your car against storm damage, but comprehensive insurance must be taken out. The purpose of motor insurance is to compensate the damage caused by the policyholder to another party. Since nature is the cause of the damage in the case of a storm, there is no other side insurance company to compensate for the losses.
Comprehensive insurance is helpful, for example, if the car is under a broken tree in a storm or if the vehicle’s electrical system has been damaged due to a flood. Such repairs tend to cost thousands of euros, which is why a financial victory with comprehensive insurance is quite likely. For example, we can cite one car owner who traveled with his vehicle to Italy and got caught in the hail there. Due to the damage, the roof, hood and windows of his car had to be replaced. The damage to this car owner was more than 10,000 euros.
Rather, choose a solution that is slightly more expensive, but with much wider protection
When insuring a home or a car, you must choose insurance with the widest possible coverage, which also provides real protection in the event of an accident. The monthly costs may increase by a few tens of euros, but in the event of a loss, you can avoid costs that can reach tens of thousands of euros.
Before concluding an insurance contract, it is good to think about whether floods threaten my home and car, whether there are large trees in the vicinity that could break during a storm and damage my or my neighbors’ property, whether the roof of the house still suffers from wind and storms, etc. If the contract has already been signed, but you doubt whether it still covers everything you need, you should review the insurance terms and ask for help if necessary.
2024-10-28 14:00:00
#season #autumn #storms #ensure #property #protected
**Interview with Raivo Piibor, Head of Coop Pank’s Insurance Business Line**
**Interviewer:** Thank you for joining us today, Raivo. As fall storms become more prevalent, what are some key steps homeowners can take to protect their properties?
**Raivo Piibor:** Thank you for having me. It’s crucial for homeowners to prepare in advance for storms. Simple measures like securing loose items in the garden—trampolines, furniture, etc.—can prevent significant damage. Close all windows and doors, and if possible, park your car away from large trees or objects that could collapse during heavy winds. In extreme weather, unplugging appliances and avoiding using the oven can also mitigate risks.
**Interviewer:** That’s very practical advice. What about homeowners’ insurance? How can people ensure they’re adequately covered?
**Raivo Piibor:** Many people opt for the most affordable insurance, but that can be a mistake. It’s vital to review your insurance contracts closely and consider adequate coverage amounts. A small additional payment can significantly impact your compensation in the event of a storm-related disaster. For instance, additional protection can cover temporary housing costs or restoration expenses if your home becomes uninhabitable.
**Interviewer:** Interesting point. Could you elaborate on liability insurance and why it’s essential during storms?
**Raivo Piibor:** Absolutely. Liability insurance covers damages you might cause to others, which can be particularly important in storm scenarios. If your trampoline blows into a neighbor’s garden and damages their property, liability insurance can help cover those costs. It’s about safeguarding yourself in situations where storm-related incidents could lead to financial responsibility for damages to others.
**Interviewer:** And what about vehicle protection during storms?
**Raivo Piibor:** That’s a great question. Basic motor insurance often does not protect against storm damage. For full coverage, comprehensive insurance is necessary. This protects your vehicle against various incidents, including damage from falling trees or flooding, ensuring you’re not left to cover costly repairs out of pocket.
**Interviewer:** Thank you, Raivo, for sharing these insights on storm preparedness and insurance. It’s clear that planning ahead can save homeowners a lot of trouble.
**Raivo Piibor:** My pleasure. It’s all about being proactive and making informed choices to protect both your property and your peace of mind during stormy weather.
Uninhabitable due to storm damage.
**Interviewer:** That’s an important point. Are there particular areas homeowners should focus on when reviewing their policies?
**Raivo Piibor:** Absolutely. Homeowners should assess coverage for not just the main building but any additional structures on their property, like sheds or garages. It’s also essential to evaluate personal property insurance for valuable items, such as outdoor equipment. Furthermore, liability insurance is often overlooked but can protect you if a storm-related incident affects a neighbor’s property.
**Interviewer:** What about vehicle insurance? How can people protect their cars from storm damage?
**Raivo Piibor:** Standard motor insurance typically does not cover storm damage, so it’s crucial to have comprehensive insurance. This type of policy can cover damages caused by fallen trees or flooding. For instance, a car owner might face thousands of euros in repairs after hail damage, highlighting the importance of broader coverage options, even if they cost slightly more upfront.
**Interviewer:** That’s great advice. As we head into the stormy season, any final thoughts for our listeners?
**Raivo Piibor:** Yes, I encourage everyone to assess their properties critically. Are there large trees nearby? Is your home at risk for flooding? Take the time to review your insurance terms and adjust your coverage accordingly. Preparation can save you significant costs and stress in the long run. Thank you for having me!
**Interviewer:** Thank you, Raivo, for sharing your insights on preparing for fall storms.
