Insurance Scams and Price Gouging After A Hurricane

Crazy to think that it has only been 61 days since Hurricane Helene tore through parts of Florida, Georgia, North Carolina, South Carolina, and Tennessee on September 26-27, 2024.

So many people are still trying to put their lives back together and restore their property after the storm. As our communities continue to rebuild, repair, and restore, we want to offer some helpful tips to those still recovering from the storm. Here are ongoing Insurance Scams and Price Gouging After A Hurricane and Tips to Handle Them:

1. Work closely with your insurance adjuster in regards to any claim filed.
   • Adjusters are your friends, especially during these catastrophic claim events.  They are looking for way to pay your claims and pay them quickly.   They cannot do that without your help.
   • Do answer your phones when adjusters call.  We know people do not like to answer unknown callers, but speaking with your adjuster when they call is ideal to keep your claim moving.
   • Do respond to their emails when they request information even if it is to tell them you are waiting on something.  
   • Do express concerns to them if you do not think their estimates are quite right.  You know your property best.  Also, they are human and they are juggling a bunch of claims, so discussing your concerns with them is okay.
   • If your claim is denied, contact FEMA to see if their Disaster Assistance program(s) apply to your situation. 
2. Entrust storm repairs to honest contractors.
   • Read this blog from Cincinnati Insurance Company that lists warning signs on how to spot fraudulent contractors then try to avoid these unsavory companies or you might get stuck with poor work or a huge bill.
3. Stay alert to scammers
   • Not only does the US Attorney warn us to stay alert to charity scams, the SC Department of Consumer Affairs also advises us to watch out for imposters.  Some scammers will act as government agencies, like FEMA or SCEMD, to seem more official. Some pose as utility or insurance companies. Never be afraid to ask for identification or cut off contact with someone who is asking for personal identifying information.
   • Review this helpful flyer from the SC Department of Consumer Affairs letting you know how to spot imposter/phony officials, home repair scams, renter’s rights, fake charities, and how to obtain additional help.
4. Beware of price gougers!
   • We all learned in high school economics about the concept of supply and demand. “In times like these, the demand for non-essential items and luxuries dwindles, leading many businesses to lose the sales they normally rely on. To offset this loss, retailers might raise the prices of essential items in an effort to stay in business. On the other hand, when the demand for essential items or services suddenly increases, the supply can quickly become very limited, further increasing prices.” 
   • Businesses are NOT allowed to raise the price of products excessively to take advantage of a current crisis.  If you believe you have encountered price gouging, here is where you can report it.  To report it, you will need:
   • Time, place, address, and name of the business.
   • The price you paid.
   • Any prices nearby and get the same information on those businesses.
   • Take pictures that identify the business, along with the price.
   • Provide your name and contact information.
   • NOTE: We do want to share though, “price gouging under the current law is difficult to prove, even substantial price increases. What might seem large to the public may not be illegal in court.”
5. Call your insurance agent if you have any questions or concerns
   • That is what we are here for.  Just give us a call at 803-791-1120!
   • Email us Here