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Insurance Commissioner, Governor and Mayor Tour Tulsa Tornado Damage Featured

Written by  Wednesday, 09 August 2017 00:16
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According to a press release - Oklahoma Insurance Commissioner John D. Doak is offering tips to tornado victims to ease the recovery process. He just wrapped up a tour of the damage in midtown Tulsa with Governor Mary Fallin and Tulsa Mayor G.T. Bynum.

 

“Filing an insurance claim can be an intimidating process,” Commissioner Doak said. “But we are here for those who suffered from the storms, including business owners. We want to make sure they get the assistance they need to recover as quickly as possible.”

 

More than 150 businesses and 25 homes were damaged in the EF-2 tornado on Sunday. Business owners should ask their agent or insurance company if they have business interruption coverage. This type of insurance covers the revenue earned, based on financial records, had the tornado not occurred. The policy might also cover operating expenses, like electricity, that continue even though business activities have come to a temporary halt. Businesses that were not damaged, but are being forced to close because of the debris, may also be able to file a claim with business interruption coverage.

 

All tornado victims should be on the lookout for fraudsters after the storm. Oklahoma Insurance Department Anti-Fraud agents will be in the area to educate people about potential scams.

 

They are also sharing these tips on hiring service providers after a disaster:
• Don't let anyone inspect your property without you watching. Some unscrupulous companies will cause damage to drive up the repair cost.
• Never pay the entire repair bill in advance. Pay in full only when the work is completed according to your agreement. Or pay a portion up front for materials.
• Be suspicious of anyone who offers to get you more money for your insurance claim.
• Look for an established, licensed company and request references.
• Insist on a detailed, written estimate clearly stating the quantity of materials needed, the approximate starting and completion dates and payment procedures. Also, a signature is not required to receive an estimate. Some scammers will trick you into signing a contract by saying it’s an estimate.
• Carefully review and understand any warranty and watch for conditions that would void it.
• Use caution and ask questions before accepting a bid substantially lower than other bids covering the same repair work.
• Avoid high pressure sales tactics.


If anyone needs help filing a claim, questions about the claims process or suspects insurance fraud after the storm, they can call OID’s consumer assistance division at 800-522-0071.

 

About the Oklahoma Insurance Department
The Oklahoma Insurance Department, an agency of the State of Oklahoma, is responsible for the education and protection of the insurance-buying public and for oversight of the insurance industry in the state.



David Deaton

Digital Editor at Oklahoma Welcome

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