Upon listening to a channel 17 (Comcast Des Plaines) rebroadcast of the 4/5/2010 Council Meeting, there was an announcement of the availability of $10.3 million for the relief of 2008 flood victims. There will be a meeting on Monday May 3rd at the Des Plaines Library starting at 6:00 pm that will help folks make an application to file for reimbursement of damages to property.
Also see Flyer
or point your browser to
http://www.cookcountydisastergrant.org/
Showing posts with label insurance. Show all posts
Showing posts with label insurance. Show all posts
Friday, April 9, 2010
Sunday, September 20, 2009
City of Des Plaines is #1 - At the Wrong Thing!!
Sometimes it is nice for a community to be at the top of the list and sometimes it is not!
Being a math guy, I always gravitate toward numbers, and because the No Flood Zone folks in the 8th Ward of Des Plaines are concerned about flooding, I decided to do some research and found some interesting Illinois statistics by city on FEMA' s website. The data only includes people who have flood insurance, so it's missing a significant amount of losses due to backup of sewer and sump pump coverage, which is only available through an insurer, because flood insurance only covers you for losses due to overland flooding (i.e., surface water).
Being a math guy, I always gravitate toward numbers, and because the No Flood Zone folks in the 8th Ward of Des Plaines are concerned about flooding, I decided to do some research and found some interesting Illinois statistics by city on FEMA' s website. The data only includes people who have flood insurance, so it's missing a significant amount of losses due to backup of sewer and sump pump coverage, which is only available through an insurer, because flood insurance only covers you for losses due to overland flooding (i.e., surface water).
I have posted a Google Spreadsheet exhibit from the source data. It shows open and closed claims, the number of claims without payment, and total payments, sorted in descending order of payments, for the period January 1, 1978 through April 30, 2009. Guess which community had the worst experience? You guessed it - Des Plaines - "The City of Destiny" - destined to become "The City of the Destitute" if our public officials do not make flood prevention a top priority. From January 1, 1978 through April 30, 2009, insured losses for the City of Des Plaines totaled a staggering $18.1 million at an average payment of $22,000.
You have to go pretty far down the list to get to Mount Prospect (#121), so the idea of seceding from Des Plaines and becoming part of Mount Prospect is becoming more and more appealing to folks on the west end of town in the 8th Ward.
I have requested similar data from the Department of Insurance, but just for losses due to sewer and sump pump coverage. I am confident that those numbers will be very alarming and place Des Plaines close to the top once again.
Spreadsheet from the the FEMA statistics.
Spreadsheet from the the FEMA statistics.
Hey, it's nice to be number one - at the right thing!!
FELLOW RESIDENTS OF DES PLAINES - DO WE REALLY WANT THIS REPUTATION?
CALL THE MAYOR MOYLAN, CALL ALL OF THE ALDERMEN, AND CALL THE CITY MANAGER AND LET THEM KNOW WHAT YOU THINK! ENOUGH IS ENOUGH!
FELLOW RESIDENTS OF DES PLAINES - DO WE REALLY WANT THIS REPUTATION?
CALL THE MAYOR MOYLAN, CALL ALL OF THE ALDERMEN, AND CALL THE CITY MANAGER AND LET THEM KNOW WHAT YOU THINK! ENOUGH IS ENOUGH!
Saturday, September 19, 2009
FEMA for Floodies
OK, so your insurance company has canceled your backup of sewer and sump pump coverage. Now what do you do? Well, you could convert your basement into an outdoor patio, or you could ask your insurance agent for a quote on a flood insurance policy, which will provide at least some basic coverage for you if you experience overland flooding. The Federal Emergency Management Agency (FEMA) determines the premium rates and coverage limits for flood insurance policies. FEMA does not provide coverage for:
But back to FEMA flood insurance. First of all, you have to live in a community that participates in the National Flood Insurance Program (NFIP), and Des Plaines does. However, you might wonder if you can still purchase this coverage because 8th Ward residents are not in a flood plain. However, the good news is that you do not have to be in a flood plain to purchase this insurance, and if you are not, you can get a "Preferred Risk Policy", which is significantly cheaper (basic can be as low as $119 per year). The second piece of good news is that, as long as your community is participating in the NFIP program, your coverage can never be canceled.
There are various coverage limits you can purchase for both structure and contents (there are separate limits for these), but there are coverage restrictions for basements, which are below grade. If you are getting coverage for a basement, personal property, like furniture or electronic devices, will not be covered. The only contents covered are your washer, dryer, food freezer, and portable air conditioner. Big ticket items like furnaces and hot water tanks are insured under the structure coverage. For basements, the cost for drywall material is covered, but not the cost to tape and plaster. Finished walls (e.g., paneling or painted walls) are not covered. If you have damage to the first floor of your home, the restrictions for basements do not apply, but again, it has to be surface water entering your home in order to have an insurable loss.
One thing to note is that sometimes isolating the cause of loss is not very easy. For example, if you have a raised ranch with a below grade garage, you may experience overland flooding and sewer backup. How would a claims adjuster separate the two when evaluating your loss? This may a good question to ask when you purchase coverage because you do not want to be surprised when you have a loss and then discover the loss was not insurable.
If you have any questions about this coverage, contact Mr. David Schein by phone at 312-408-5539 or by e-mail at David.Schein@dhs.gov, or call your insurance agent. Insurance agents get a commission to sell flood insurance policies, but according to Mr. Schein, are not very proactive in letting their policyholders know about this option.
Click on this link to get more detail about flood insurance polices.
- Back ups through sewers or drains
- Discharges or overflows from a sump pump or related equipment
- Seepage or leaks on or through the covered property
But back to FEMA flood insurance. First of all, you have to live in a community that participates in the National Flood Insurance Program (NFIP), and Des Plaines does. However, you might wonder if you can still purchase this coverage because 8th Ward residents are not in a flood plain. However, the good news is that you do not have to be in a flood plain to purchase this insurance, and if you are not, you can get a "Preferred Risk Policy", which is significantly cheaper (basic can be as low as $119 per year). The second piece of good news is that, as long as your community is participating in the NFIP program, your coverage can never be canceled.
There are various coverage limits you can purchase for both structure and contents (there are separate limits for these), but there are coverage restrictions for basements, which are below grade. If you are getting coverage for a basement, personal property, like furniture or electronic devices, will not be covered. The only contents covered are your washer, dryer, food freezer, and portable air conditioner. Big ticket items like furnaces and hot water tanks are insured under the structure coverage. For basements, the cost for drywall material is covered, but not the cost to tape and plaster. Finished walls (e.g., paneling or painted walls) are not covered. If you have damage to the first floor of your home, the restrictions for basements do not apply, but again, it has to be surface water entering your home in order to have an insurable loss.
One thing to note is that sometimes isolating the cause of loss is not very easy. For example, if you have a raised ranch with a below grade garage, you may experience overland flooding and sewer backup. How would a claims adjuster separate the two when evaluating your loss? This may a good question to ask when you purchase coverage because you do not want to be surprised when you have a loss and then discover the loss was not insurable.
If you have any questions about this coverage, contact Mr. David Schein by phone at 312-408-5539 or by e-mail at David.Schein@dhs.gov, or call your insurance agent. Insurance agents get a commission to sell flood insurance policies, but according to Mr. Schein, are not very proactive in letting their policyholders know about this option.
Click on this link to get more detail about flood insurance polices.
Saturday, September 5, 2009
Filing a Casualty Loss for Flood Damage
Here's a tip to get you some money back from Uncle Sam. If you had major flood damage back in 2008, you should consider amending your 2008 tax return. You are going to need three things:
A professional appraisal of what your house was worth before the flood and after the flood. I would recommend Mr. Ed Burchert, who is a professional appraiser. He can be reached at 847-253-4550. I was charged $500 for two reports (before and after).
To amend your 2008 tax return. Although you may have your own accountant do the refiling, I would recommend Richard Blonn. He is an accountant in Des Plaines and is very familiar with our flooding problems. His phone number is (847) 635-6116, and his office is located at 1644 Elk Blvd in Des Plaines. I paid $250 for the refiling.
The amount you recovered from insurance for repairs to your dwelling.
Although you can include a casualty loss on any tax return, our area was declared a disaster for 2008. This means that the amount of the loss you declare is not limited. Normally, the loss is capped at 10% of your adjusted gross income.
The cost of $750 may seem steep, but it was well worth it because the amount of the tax refund was significant. Also, the professional appraisal reports gave us an idea of the lost property value on our home due to the flooding problems.
A professional appraisal of what your house was worth before the flood and after the flood. I would recommend Mr. Ed Burchert, who is a professional appraiser. He can be reached at 847-253-4550. I was charged $500 for two reports (before and after).
To amend your 2008 tax return. Although you may have your own accountant do the refiling, I would recommend Richard Blonn. He is an accountant in Des Plaines and is very familiar with our flooding problems. His phone number is (847) 635-6116, and his office is located at 1644 Elk Blvd in Des Plaines. I paid $250 for the refiling.
The amount you recovered from insurance for repairs to your dwelling.
Although you can include a casualty loss on any tax return, our area was declared a disaster for 2008. This means that the amount of the loss you declare is not limited. Normally, the loss is capped at 10% of your adjusted gross income.
The cost of $750 may seem steep, but it was well worth it because the amount of the tax refund was significant. Also, the professional appraisal reports gave us an idea of the lost property value on our home due to the flooding problems.
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