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March \| April 2004 Volume 78 Issue 2

Insurance & Financial Services

The blizzard of 2003:
Could it happen again?

The insurance industry estimates the blizzard of March 2003 was the most expensive winter storm from snow and ice damage in Colorado history. The estimated price tag was at least $93.3 million from more than 28,000 claims filed. This estimate is for damage to homes and automobiles and excludes the large commercial building losses resulting from the blizzard.

The lion's share of the damage was the result of wet, heavy snow causing collapses of roofs, porches, awnings, carports and outbuildings. There was also significant damage from downed trees and limbs, along with claims for wind, snow-melt leakage, food spoilage and out-of-pocket living expenses for people forced out of their home due to storm damage. Most of the vehicle damage was due to being crushed rather than weather-related accidents.

How to prevent damage

Keep your home warm. The temperature inside should be at least 65 degrees to prevent the pipes from freezing.
Watch for snow accumulation on the leeward (downwind) side of a higher-level roof, where blowing snow will collect.
Snow or rain that freezes in gutters can cause an "ice dam," damaging ceilings as melting ice spreads under roof shingles. Keep gutters clean of leaves and debris to prevent this condition.
Remove branches that become heavy with snow, and icicles hanging from gutters and over walkways.
As snow melts, water can back-up sewers and drains, resulting in flooding. Local government officials should be notified if street drains are clogged.
Stock up on fuel in case of a power outage, such as firewood or propane if you have a back-up heat source.

Source: RMIIA

Driver Beware:
It's No Accident

These days, with road construction, traffic congestion and everyone in a hurry, getting to and from your destinations safely is a major accomplishment. Add to these factors the disturbing fact that there may be people out there deliberately causing traffic accidents to collect on insurance claims and it's enough to keep you home for good.

Insurance fraud in general is a problem facing police and insurance companies around the country, and it's costing us all in terms of increased premiums. Auto insurance fraud in particular can take several forms, but staged accidents is one of the most dangerous.

Staged auto accidents

A staged accident typically occurs when a vehicle in front of you stops suddenly for no apparent reason, causing you to rear-end it. The other driver will downplay the incident, claim there's no harm done and suggest not calling the police. Instead, the driver will suggest exchanging insurance information "just in case." Later, you learn that a claim has been filed against you for vehicle damages and injuries the driver claims were sustained in the collision.

What to do?

Always call the police immediately after an accident. Then call your insurance agent. And don't say anything to the other driver that implies you are at fault. In addition, be aware that the profile of a typical victim for these staged accidents is a young female or an older person of either gender, especially those who drive an expensive, late-model vehicle.

AAA Insurance & Financial Services

AAA Insurance is an independent insurance agency that offers products from several highly rated national insurers, including Safeco, Travelers, Progressive, Hartford, Allied, AAA Life, John Hancock and others. Products available through AAA Insurance include auto, home, life, umbrella, and long-term care.

For information about AAA insurance products, call AAA Colorado toll-free at 866-399-9836. AAA Colorado also offers various financial services that include the "AAA Visa" card, certificates of deposit (CDs) and money market deposit accounts.

For information about AAA deposit products, call 1-800-526-7120. For information about the "AAA Visa" card, call 1-800-545-7899.

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