What Are Business Owners in Miami Doing to Prepare for Hurricane Irma? Do You Have Any Preparation Tips to Share With Other Business Owners?
Answered by:
Henry Rodriguez CPAU, CEOP, CIAQAM
Municipal Claims Management Services, Inc.
STRONGLY RECOMMEND:
Take a few pictures before Irma's unwanted visit.
Exterior of home N S E & W Elevations as well as whatever pictures of roof can be safely taken. Take at least two pictures of each room of your home, ceilings please.
Once shuttered, take a few more to prove you took steps to mitigate damages.
Take photos of cars, boats etc.
As many pictures as needed to document your UPP-Unscheduled Personal Property. Consider a voice over video, "couch purchased at Macy's in 2015 for $3500." and so on. This will allow for less depreciation as you will not be paid the replacement cost (RCV) but the actual value (ACV) until you replace and insurers have a tendency to make all you property K-Mart valued. Depreciation should be value to owner not second hand as is often the case. Not-for-resale property must be valued as value to user not Goodwill value.
Florida is a Valued Policy state: If your real property is not salvageable or substantially damaged as not to serve its purpose, once that is established the value insured (Cov. A) is owed to the insured by insurer.
Keep your Wind Policy handy, call to get your Insurer's claim reporting hot line.
We should have a list of insurance company claims telephone numbers. As soon as it is available it will be posted for re-distribution.