OnlineAutoInsurance.com recommends that policyholders with damage from the recent Southern storms contact their insurers as soon as possible if they have not already
Online PR News – 13-May-2011 – – The Arkansas Insurance Department followed suit with Tennessee and Alabama with its announcement May 6 that it has advised insurers in the state to provide a 60-day payment grace period for policyholders who have suffered significant property damage or other losses in storm-hit areas of the state.
The state was slammed with thunderstorms and tornadoes between April 14 and April 27.
“I do want to remind policyholders that this is not a permanent waiver, merely a grace period of 60 days in which to pay premiums while they get their lives back in order,” said Commissioner Jay Bradford in a release.
During that period, storm-affected policyholders who request and are granted the grace period will not have coverage canceled or non-renewed because of failure to make their payment on time.
The commissioner also emphasized that the grace period is not automatic. Policyholders must contact their insurance providers and be granted the extension.
Serious loss reports have been coming recently from regulators and car insurance companies in Georgia, Tennessee, Virginia, Alabama and Missouri, as well as Arkansas.
Allstate announced on Thursday that the storms in Arkansas and at least three other states contributed to soaring catastrophe loss projections for the month of April.
To learn more about this and other insurance issues, readers can go to http://www.onlineautoinsurance.com/georgia/ where visitors will have access to informative resource pages and a quote-comparison generator that can help jump-start the search for a quality policy in any state.