Insurance
Home›Insurance›Property Insurance›APCIA urges wildfire clients to file claims quickly an…
APCIA urges wildfire clients to file claims quickly and track expenses
Guidance highlights that rebuilding costs have risen 49% since 2020, raising the risk that homeowners and renters may be underinsured without a coverage check.
Firefighters are battling 98 large uncontained wildfires across the West, with the National Preparedness Level at 5, the highest designation, as blazes affect California, Idaho, Montana, Nevada, Oregon, and Utah.
Insurance Business reports the American Property Casualty Insurance Association (APCIA) has issued guidance for impacted policyholders, including contacting their insurer as soon as it is safe and opening a claim, then working closely with the claims representative during recovery.
While claims are underway, APCIA says clients should keep receipts for emergency expenses such as temporary housing and meals, and confirm whether their standard homeowners or renters policy includes Additional Living Expenses (ALE) coverage to reimburse those costs during rebuilding.
For clients not yet affected, the guidance calls for a proactive coverage review, noting rebuild costs have risen 49% since 2020 and brokers should review limits and deductibles, as well as the value of maintaining a documented inventory. APCIA also points to a separate, less familiar issue for agricultural clients, where livestock are typically insured separately from buildings or equipment.