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January 11, 2008
Insurance companies that hold policies for flooded Fernley residents may have to backtrack because of the circumstances for the flood.
Fernley had 1.14 inches of rain on Friday the 4th. However, this was not enough to top the Canal. The Canal failure in fact was the deciding factor of the flood. Blaming little varmits for the failure in order to release responsibility for the devistation on a heavely populated area is not acceptable to Fernley victoms.
Insurance companies for Fernley residents were quick to deny coverage. But because the Canal that is owned by B.O.R and operated by TCID, and not a flood caused by mother nature, this puts a different spin on homeowner claims.
As with any homeowner insurance, when there is another property with an owner that directly affects your property, your insurance will cover your loss caused by that property owner. This means fire and water damage. Simply put .. If there was a home with a pool uphill from you and the pool water suddenly burst and came crashing down on your home, you would be covered. This is an example of one property causing damage to another.
If this is in fact the case, homeowners in Fernley will indeed have the coverage they need to put their lives back together. And like it or not, the insurance companies will have to pay the claims from affected homeowners.
The Department of Business & Industry, Division of Insurance is now looking into insurers that were quick to deny coverage, refusing to look further into policies and refusing to send out adjusters. You can Call the Nevada Division of Insurance at 775-687-4270 to get more information on this issue, find out if you are indeed covered and what you can do next when dealing with your insurance company.
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