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Hailstorms can cause significant damage to homes, vehicles, and other property, leading to costly repairs. Understanding how to handle an insurance claim after a hail storm can make the process smoother. Taking preventive measures can help mitigate future damage and reduce potential losses.

After a hailstorm and when it is safe, inspect your property. Look for signs of damage to your roof, siding, windows, and outdoor structures. Look for interior damage due to leaks. Hail can also dent vehicles and damage landscaping. Mitigate further damage by using tarps, covering any broken windows or other openings to your home.

Understand your insurance coverage before filing a claim. If the damage appears to be over your deductible, contact your insurance agent or company to file a claim. Policies may have exclusions or specific deductibles for hail damage, and claim filing deadlines. Take photos and videos of the affected areas.

Provide the insurance company with a detailed description of the damage, along with the photographs and videos. The company will guide you through the claims process and may send an adjuster to inspect the property. If you purchased items such as tarps to mitigate further damage, save receipts so you may be reimbursed later.

Be present while the insurance adjuster assesses the damage, and point out all affected areas. It is advisable to seek estimates from at least two registered contractors for repair costs. Working with a contractor you know and trust is ideal, and always check the online reviews and references of any contractor you hire. Be cautious of fraudulent contractors who appear after storms, as they may not have your best interests in mind.

Once the adjuster completes their report, your insurance company will provide you with the claims settlement based on the terms of the policy and the covered loss. Review it carefully and negotiate using the contractors’ estimate which will be for any damage they discover. There may be differences between these two estimates. Only the insured, an attorney, or a licensed public adjuster can negotiate on behalf of the insured. Once you agree on a settlement, proceed with the repairs. You may be responsible for damages the insurance company has not agreed to.

Taking proactive measures can help minimize future damage from hailstorms. Upgrading to Class 4 impact-resistant shingles can significantly reduce the risk of roof damage and may also qualify for insurance discounts.

Regular maintenance, such as inspecting and repairing loose shingles and cleaning gutters, helps prevent water damage caused by hailstorms. Ensure trees are properly pruned to prevent limbs from causing additional damage during storms.

Whenever possible, park vehicles in a garage. Store patio furniture, grills, and other outdoor equipment to prevent damage.

By promptly assessing hail damage, understanding your policy, and working with reputable contractors, you can navigate a hail claim efficiently. Additionally, taking proactive measures can help mitigate future hail damage. By being prepared, homeowners can better protect their investments and minimize the impact of severe weather events.

When disaster strikes, whether a tornado, fire, burglary, or other insurance-covered peril, homeowners and renters often find themselves overwhelmed by the loss and the claims process. One critical step an insured can take to prepare for such situations is to create a comprehensive home inventory.

After a covered peril occurs, an insurance company may require policyholders to provide proof of ownership and value for lost or damaged items. Insureds may struggle to recall every item they own, leading to incomplete claims and potential financial losses. A home inventory is a detailed list of personal belongings with descriptions, receipts, purchase dates, photographs, appraisals, and estimated values.

To create an inventory, go room by room and list your belongings with photos, receipts or estimated worth, and descriptions including the make, model, and serial numbers. Always store your inventory in a safe place not in your residence, like a safety deposit box or in the cloud. The National Association of Insurance Commissioners (NAIC) has a home inventory app that can help with the documentation process by allowing you to take pictures and scan barcodes of items.

An inventory allows claimants to submit accurate and detailed reports, ensuring they receive the actual or replacement cost compensation they are entitled to under their policy. Actual cash value is paid after depreciating for age and wear and tear. Replacement cost means reimbursement for the cost to repair or replace with a similar item. With replacement cost, the depreciated amount is paid first, and once proof is provided for the repair or replacement the company will reimburse the cost.

Insurance policies cover personal property up to the limit on your declarations page. In the absence of a home inventory, insurers may default to estimating the value of lost items, often leading to underpayment. By having an organized record, policyholders can provide concrete evidence, increasing the likelihood of receiving the full replacement cost for their belongings.

In the case of burglary, a home inventory is a valuable tool for insurance claims and law enforcement investigations. Many homeowners and renters underestimate the value of their possessions, leading to insufficient insurance coverage. A home inventory helps individuals assess whether their current policy limits are adequate to replace their belongings. If the total value of possessions exceeds the policy’s coverage limit, policyholders can make informed decisions about adjusting their coverage before a loss occurs. This proactive approach prevents the unpleasant surprise of being underinsured when it is too late to make changes. Speak to your licensed insurance agent annually about policy limits and if they need to be adjusted.

A home inventory is an invaluable tool that simplifies the insurance claims process, ensures fair compensation, and provides peace of mind during difficult times. Taking the time to create a comprehensive inventory before disaster strikes, allows homeowners and renters to protect their financial well-being and recover more quickly from losses.

Each spring brings about the possibility of flooding in Iowa. Damage caused by flooding is often a standard exclusion in homeowner, renter, and property insurance policies. In most flood-prone areas, flood insurance coverage has traditionally been available through the Federal Emergency Management Agency’s (FEMA) National Flood Insurance Program (NFIP). Those not living in an NFIP community have flood insurance options from private insurance carriers.

According to FEMA, one inch of water can do $25,000 worth of damage, and the average NFIP flood claim paid between 2016 and 2022 was more than $66,000. If you live in or around a high-risk flood area, you may be required to have flood insurance. The FEMA Flood Map Service Center is the official public source for flood hazard information in support of the NFIP. The NFIP offers two types of coverage, building and contents, to protect your home and belongings. NFIP also provides flood insurance for renters, businesses, and preferred risk policies specifically designed for residential properties in moderate-to-low-risk flood zones. Typically, there is a 30-day waiting period before flood insurance takes effect. Call a licensed insurance agent soon to see about coverage.

Why do you need private flood insurance? Iowa is a state with previous historical flooding experience. So, if you don’t live in an area that requires flood coverage or participates in the NFIP program, private flood protection should be considered. Private flood insurance is sold by licensed insurance agents in Iowa and may also have a waiting period before coverage takes effect. Also, consider parametric flood insurance which pays out when a predefined flood event occurs, rather than the actual amount of loss.

Water and sewer backup coverage are different from flood insurance. While some homeowners policies include these provisions, neither are automatically included as part of a regular homeowners policy and will need special endorsements to provide coverage. Review your homeowners policy annually for the necessary endorsements and adequate coverage amounts.

As with any insurance policy, read the policy to ensure you understand what is covered. Coverage through FEMA’s NFIP may cover direct physical losses to your structure and belongings. Private flood insurance may also provide loss-of-use coverage, which is not reimbursed by a federal government policy. Pay specific attention to what is not covered under the policy, and discuss the coverage limits with your agent to ensure you have enough protection.

Additional information about flooding and flood risks can be found on the NFIPwebsite. For current flood alerts and stream levels in Iowa visit the Iowa Flood Information System.

Iowans who believe they have flood coverage under their property insurance and are not receiving compensation per their insurance policy may file a complaint with the Iowa Insurance Division. Before disaster strikes review the Post-Disaster Claims Guide to help you complete a home inventory and assist with the filing of any future insurance claims.

Remember, flood damage can happen to anyone in Iowa, and an NFIP or private flood insurance policy may protect you from water damage losses. Act quickly to obtain coverage before flood season begins.

According to the Coalition Against Insurance Fraud (CAIF), insurance fraud costs consumers an estimated $308.6 billion annually in the United States, translating into roughly $900 per consumer due to increased premiums caused by fraudulent claims.

Insurance Fraud is any act of deception or misrepresentation made to an insurance company with the intent of receiving benefits or payouts that one is not entitled to. This includes individuals and organizations making false claims, as well as those providing false information to avoid paying premiums or reducing their insurance costs, and it impacts everyone whether they are directly involved in a fraudulent claim or not. The financial consequences of fraud are significant, as insurance companies may charge higher premiums in order to ensure coverage for their customers. Fraudulent claims can also strain the resources of law enforcement, insurance adjusters, and investigators, leading to increased costs and delayed payouts for legitimate claims.

The Iowa Insurance Division’s (IID) Fraud Bureau has taken proactive steps to combat insurance fraud by investigating activities from false claims to misrepresentation during the application process. Each year the Fraud Bureau receives over a thousand reports of suspected insurance fraud in Iowa from reports from consumers and insurance companies, who are required to report suspected fraud.

There are two main types of insurance fraud: hard and soft. Hard fraud involves intentional acts like staging car accidents or setting fire to property to collect insurance money. Soft fraud or “opportunistic fraud” consists of exaggerating or inflating legitimate claims, such as over-reporting damages or lying about the extent of injuries. The growth of digital tools and the expansion of online insurance purchases have made fraud more sophisticated and harder to detect. Fraud may go unnoticed until a pattern emerges or an investigation is initiated.

Insurance fraud in Iowa is a felony with possible confinement of up to five years. Examples of insurance fraud cases include: presenting false information to an insurance company about an injury sustained in a hotel room, obtaining an insurance policy to cover damages for an accident that they would not have been entitled to, fraudulently withdrawing $170,416.66 from a victim’s insurance annuity and using the money for their benefit, a doctor billing an insurance company for services that were not rendered, and fake insurance policies.

Insurance fraud contributes to rising premiums, undermines the integrity of the insurance system, and diverts resources away from legitimate claims. Everyone—from individuals and businesses to insurers and law enforcement—has a role in reducing and preventing fraud. By reporting suspicious claims and maintaining transparency, the public can help protect the integrity of the insurance market and reduce the financial burden of fraud. The IID’s Fraud Bureau may be reached at 515-654-6556.

As we approach the new year, now is the perfect time to reflect on the past year’s spending and set goals for the year to come. Here are some practical tips to help you reach your goals in 2025 and beyond.

Create a Budget

-Track your income and expenses: We can’t make effective changes to our spending habits if we don’t understand where our money is going. Identifying spending categories and keeping track of your expenses is a crucial step in managing your finances effectively.
-Do what works best for you: Consistency is key. Pick a budgeting method that fits your lifestyle, and you can stick with. Budget templates are available on our website, available under the Resources tab.

Cut Expenses

-Identify variable expenses: This is where you can make the easiest impact.
-Evaluate wants vs needs: Separating needs and wants can help you prioritize your spending.
-Eliminate Waste

-Cut out underutilized subscriptions, streaming services, and memberships.
-Meal Planning

-Decreases food waste. According to the USDA, the average family of 4 spends $1500 annually on food that is never eaten.
-Decreases amount spent on take out.
-Decreases impulse spending – Stick to the plan. Quick trips to the grocery store for forgotten items average spending 54% more than they intended.

-Decrease energy usage

-Switch to LED bulbs
-Use cold water in laundry to reduce cost of heating the water.
-Properly seal drafty windows with caulk and window insulation kits.
-Unplug unused electronics.
-Keep filters clean to increase appliance efficiency.

Set Savings goals

-Set SMART goals: Ensure your goals are Specific, Measurable, Attainable, Relevant, and Timebound.

-Instead of, “I want to start saving for my child’s college education.”

Try, “I want to save $10,000 for my child’s college education in an ISave 529 plan by the time my child graduates (May 2035).”

-Break large goals into smaller goals.

-Goal 1: I will put $1500 from my tax return into a 529 college savings plan by April 2025.
-Goal 2: I will decrease my monthly grocery expense by $50 per month by December 31, 2024. I will reallocate the $50 saved monthly to my child’s college fund.

-Utilize Tools and Resources: Retirement, compound interest, and other calculators can be found on gov to assist you in creating a plan to reach your goals.

By following these tips, you can take control of your finances and make the most of your money in the new year. Remember, the key to financial success is consistency and planning. Happy New Year and happy saving!

This holiday season Iowans will gather with loved ones and it is a great time for an open discussion about the location of important documents which detail end-of-life plans.

An end-of-life plan is a set of arrangements or decisions made in advance regarding the care, treatment, and personal affairs at the end of a person’s life. It typically involves preparing for the final stage of life in a way that aligns with the individual’s wishes, values, and goals. The discussion doesn’t have to divulge details you are not comfortable sharing, it just ensures the following information may be found in case of an emergency.

A will outlines how a person’s assets should be distributed after death. Trusts are legal arrangements that help manage how assets are distributed, potentially avoiding probate. A power of attorney designates someone to manage financial and legal affairs on your behalf if you cannot do so. All parties assigned to carry out these duties should have copies of these legal documents.

Assemble a list of banking and financial accounts with the policy or account numbers, passwords, etc. Accounts should have updated beneficiaries or designate a payable-on-death designation. Consider consolidating financial accounts to one or two financial institutions. If using a licensed financial professional, ponder an introduction to those tasked with handling your affairs. Add trusted contacts to your financial accounts so that if there is a change in behavior or something seems suspect with the account, the contact may be notified.

Outline information on life insurance policies, and if they are paid up. If assistance is needed in locating a policy after a loved one has passed you may use the free National Insurance Commissioners Life Insurance Policy locator service.

Advance directives include a living will and a durable power of attorney for health care. A living will is a document that specifies the types of medical treatments and life-sustaining measures a person wishes to receive or avoid in case they become unable to communicate their wishes. A durable power of attorney for health care appoints someone to make medical decisions on behalf of the person if they are incapacitated (e.g., in a coma or terminal illness).

If there is a long-term care policy, know how the premiums are paid, and the requirements for benefits to start. Request a designee on the policy who receives a notice if a premium is not paid. Discuss palliative care and hospice preferences for pain management and comfort care.

Funeral and burial preferences should be communicated in writing. Include any specific wishes or instructions, and if your loved one wants to be an organ and tissue donor. Communicate any prepaid funeral policies.

Having discussions about the location of these documents and future legacy planning does not require someone sharing more about their finances than they desire. It is about knowing where documents are kept and being able to assist with the care of a loved one when needed. These conversations create transparency and understanding with everyone involved.

October is Cybersecurity Awareness Month, and the Iowa Department of Insurance and Financial Services reminds residents how to prevent cyber crimes, protect themselves and their financial information online, and the educational programs available. Heather Kriener is the financial literacy director with the Department of Insurance and Financial Services. Kriener says highlighting the risks and resources of cybersecurity continues to become more important as more information is moved online.

“It’s important all year round,” said Kriener. “This is really a time for us to remind people of how they can protect themselves, the resources that are available to find out more information, and trying to empower Iowans with the information that they need to make safe choices.”

Kriener says there are several ways to help ensure your financial and personal information is secure. One simple step, she says, is using different passwords for your various accounts.

“Sometimes it’s a lot easier to use the same password that’s easier for you to remember across all of the logins you have, so try to vary those especially if you have an email versus a bank account, where if one of them gets hacked then essentially the other one has been discovered as well,” she said. “What I recommend is to actually use a ‘pass-phrase’ and not something that would be easy to guess, but a combination of more random words that would be easy for you to remember.”

To read the rest of this article and listen to Heather’s interview, visit its original source at KMAland.

Auto collisions involving animals or deer account for 13.8% of reported motor vehicle crashes in Iowa. Understanding how auto insurance works in these situations along with effective prevention strategies can help you navigate the experience.

Understanding Coverage
If you find yourself in a collision with an animal, the type of auto insurance you have will determine what costs are covered. Most standard auto insurance policies include two key components for coverage:

Comprehensive Coverage: This is the most relevant coverage for animal collisions. Comprehensive insurance covers damages to your vehicle caused by events other than a collision, such as animal strikes, theft, vandalism, and natural disasters. If you hit an animal, this coverage may help pay for repairs minus your deductible.
Collision Coverage: This covers damages when you collide with another vehicle or object, minus your deductible.

If you only have liability coverage on your auto insurance as required by Iowa law an animal strike would not be covered.

Preventive Measures
While insurance can help mitigate financial loss after hitting an animal, prevention is key. Here are some effective strategies:

Warning Signs: Pay attention to deer crossing signs, especially in areas known for deer activity.
Use Your High Beams: When driving in rural areas at night, use your high beams when there is no oncoming traffic.
Reduce Speed: Driving at a safe speed allows for quicker reaction times if an animal suddenly appears. Lower speeds can reduce both the likelihood and severity of a collision.
Be Cautious at Dawn and Dusk: Deer are most active during these times. If you can, plan your travel to avoid driving during peak deer movement hours.
Watch for Movement: Be on the lookout for deer near the road. If you spot one, slow down and be prepared to stop, as they often travel in groups.
Use Horns Wisely: If you see a deer on or near the road, honking your horn may cause the deer to retreat and prevent a possible collision. Installing a deer whistle on your grill may also help, but don’t rely on their effectiveness.
Don’t Swerve: Swerving to miss an animal may cause more damage or injury, and involve other vehicles.

What to Do After a Collision
If you do hit an animal, the first step is to ensure everyone is safe. Move your vehicle to a secure location, call authorities, and stay away from it. It’s crucial to document the incident for insurance purposes—take photos of the damage, note the time and location, and gather any witness information. File an insurance claim for damages, if they are more than your deductible.

Conclusion
Hitting an animal can be a distressing experience, but understanding your insurance coverage and implementing preventive strategies can help minimize risks and ensure you are financially protected. Regularly reviewing your insurance policy, staying vigilant, and taking precautions can significantly reduce the chances of an animal-related accident.

Short-term limited duration (STLD) insurance is a type of health insurance coverage traditionally designed to fill the gaps in coverage when an individual is transitioning from one health insurance plan to another.

STLD plans attract a diverse group of individuals, particularly those facing specific life circumstances where traditional health insurance isn’t immediately accessible or necessary. Common scenarios when STLD is needed are people between jobs, early retirees, individuals who missed open enrollment or people who find the ACA plans unaffordable. In 2023, the number of Iowans enrolled in STLD plans was 3,802.

Effective September 1, 2024, a new federal law significantly alters the landscape for STLD plans. The key changes under the new law include reducing the coverage duration to no more than 3 months with renewals extending the total coverage period up to only 4 months. Carriers are also prohibited from offering a STLD plan, including permissible renewals, to the same policyholder within a 12-month period.

Notices requirements to consumers purchasing STLD plans must be in 14-point font on the first page of all plans, applications, and marketing and enrollment materials. These requirements assist the consumer in understanding they are not purchasing an ACA compliant major-medical plan.

The federal changes do not impact any plans effective before September 1, 2024, and do not impact the duration of currently active plans. Individuals enrolled in plans before the law took effect, may continue to receive coverage under their plan for the full duration, including renewals, of the plan.

Individuals considering a STLD plan may need to consider other options for health insurance such as the ACA Marketplace. Marketplace plans may offer a subsidy in the form of a tax credit that lowers your monthly premium and, depending on your income, cost-sharing reductions that will lower your deductible and copays. Ninety percent of all Iowans receive significant monthly subsidies and the average monthly premium after the advance premium tax credit is $93. Open enrollment for the ACA Marketplace is November 1, 2024 – January 15, 2025.

Individuals who lose coverage in STLD plans are eligible for a 60-day special enrollment period into group health plans but not into an individual health plan, and the law did not allow for a special enrollment period into individual ACA plans. The September 1, 2024, effective date was set so individuals may receive coverage in STLD plans for up to 4 months until they are able to receive coverage in the individual ACA plans offered on the Marketplace beginning January 1, 2025.

Iowans considering purchasing or renewing a STLD should speak to a licensed insurance agent or contact the Iowa Insurance Division’s Consumer Advocate at 515-654-6538.

Auto insurance is a necessary expense for drivers, but it doesn’t have to break the bank. According to the Insurance Information Institute, Iowa had the third least expensive auto insurance in 2021 with an average expenditure of $725.30. Still, the U.S. Department of Labor states auto insurance rates rose 19.5% over the last year. Consumers can effectively save money on their auto insurance premiums. Here’s how:

Compare quotes from different insurance companies regularly. Prices can vary significantly between insurers for the same coverage. Many insurers offer discounts if you bundle multiple policies, such as auto and home insurance. Inquire about discounts for being a safe driver or good student, or affiliations with certain organizations or employers.

Increasing your deductible typically means lower premiums. Just make sure you can afford the deductible in case of a claim by having an emergency fund to cover any deductible expenses you may incur.

Safe driving habits can lead to lower premiums over time. Avoid accidents and traffic violations. Some companies may offer lower rates when you install an app on your phone to monitor your driving habits.

Consider the type of car you drive. Vehicles with high safety ratings and lower repair costs generally have lower insurance rates. Before pu

rchasing a car, research insurance costs associated with different makes and models to make an informed decision.

Review your coverage needs. For instance, if your car’s value has decreased, you might not need comprehensive coverage anymore.

Some insurers offer lower premiums for drivers who drive fewer miles. Pay-as-you-drive programs, which base premiums on the number of miles driven, can also be cost-effective for low-mileage drivers.

Your credit and insurance score may also factor into your premium. A credit score predicts the likelihood of paying back a loan, and an insurance score determines the probability of an insurance loss. An insurance score is calculated using the information on your credit report and not your annual income, ethnic group, age, gender, and other similar factors. A high insurance score translates to less probability of filing an insurance claim, thus leading to lower premiums. Ask your insurance carrier about access to your insurance score.

Insurers offer discounts for cars with safety features like anti-lock brakes, airbags, and anti-theft devices. Make sure the proper vehicle identification number for your vehicle is submitted to your agent so you receive discounts for these features.

Paying your premium in one lump sum annually rather than monthly may lead to savings.

Maintaining continuous auto insurance coverage which demonstrates reliability to insurers and may lead to lower premiums over time.

If you are unable to obtain coverage in the voluntary market, the Iowa Auto Insurance Plan may provide you access to automobile insurance coverage. Speak to a licensed insurance agent if you need to inquire.

The Iowa Insurance Division licenses many auto insurance carriers. To find the appropriate policy for your situation, speak to a licensed insurance agent regarding insurance options. Exploring your options may provide the most affordable coverage.