Residents in areas hit by the severe cold snap can file for an insurance claim, an insurance expert said.
Chief claims counsel for American Property Casualty Insurance Association (APCIA) Jim Whittle said that damages because of subpolar temperatures — such as busted pipes, cracked windows, fallen branches, and roof collapses — are covered by insurance.
Whittle suggested customers file the claims immediately as he expected millions of Americans who are still experiencing the severe winter condition to do the same. Affected customers should capture photos of the damage and start the claims process immediately, either by calling or emailing insurers or by filing a claim online or through their mobile app.
Customers of insurance for homeowners, auto, and renters may apply for claims depending on policy coverage.
While Whittle recommended property owners to take the needed steps to prevent further home damage, he also reminded homeowners not to start any work on their homes until the insurer inspected the damages.
According to an AccuWeather report, the total cost of the extended winter freeze that has hit US regions could reach $14 billion. The weather site also added that while much of the value will be recovered, nearly $5 billion could be lost permanently.
The subzero temperatures affected multiple areas of the economy, including businesses, schools, and other government agencies, causing. In the winter of 2013-14, severe weather all over the US shrunk the economy by 2.1% in the three months of 2014. As supply chains and inventories of goods were affected substantially, fewer consumers and companies were able to make their purchases.
Most climate scientists claim the extreme cold bouts across North America are over. While many US areas can still expect cold waves, temperatures will stabilize for the rest of the season.