Please review your coverage and make any needed adjustments at each renewal cycle. During this review, make sure you have adequate insurance to repair damaged buildings or replace those that may be destroyed in a storm. The insured value on the policy must be at least 80% of the replacement cost to avoid any co-insurance penalty that could apply. As a reminder, flood claims are paid on an Actual Cash Value basis. If you have any questions about your values, please contact your field agent and make any needed adjustments in advance.
Whenever a watch or warning has been declared for any part of South Carolina, the Insurance Reserve Fund will suspend writing all new business or increasing amounts of coverage on a state-wide basis. The IRF may suspend binding authority in other circumstances in advance of the posting of any watch or warning at its discretion.
In the event your property sustains damage, make temporary repairs to "dry in" damaged buildings as quickly as possible. This will reduce subsequent water damage and speed the recovery process. Please retain documentation of these costs and any other invoices from vendors to document your loss to the IRF and possibly FEMA.
Detailed documentation is the key to a smooth claims process. You should consider how you are going to document your claim now. (Since electrical service will be interrupted by a hurricane, the initial documentation will have to be on paper, not computers). Make sure to have your declaration pages printed and in a binder for use as your computer may not be accessible.
DO NOT DELAY reporting your claim because you are waiting to collect all damage claim information before reporting to the IRF. The IRF wants to set up your claim as quickly as possible to assign an adjuster to work with you. Additional damaged segments can always be added to your claim as they are discovered.
The days immediately after a storm are chaotic, and reporting claims may not be possible. Once communications are restored, please report claims as soon as possible in one of the following ways:
- E-Mail to: email@example.com
- Facsimile to Catastrophe Claims: 803-737-0042
- Telephone: 803-737-0020 (agents will assist you).
- Regardless of how you report a claim, please have the following information:
- Policy Number
- Segment Number (building number)
- Description of damage
*Please use the attached property claim reporting form. This form is also available at www.irf.sc.gov.