Expert warns: Don’t be caught without insurance during hurricane season

Expert warns: Don’t be caught without insurance during hurricane season
NASSAU, BAHAMAS – As The Bahamas navigates this year’s hurricane season, one insurance stakeholder is urging homeowners to review their insurance contracts to avoid the risks of being underinsured for valuable items.

“When it comes to your insurance policy, it is of utmost importance to know what you are covered for,” stated Darren Rodgers, Manager of the Department of Intermediaries & Market Conduct Unit at the Insurance Commission of The Bahamas. Rodgers highlighted the potential threats from floods, fires, and other “acts of God” that can compromise one’s security.

Rodgers emphasized that having insurance does not always equate to having full coverage. He urged residents to familiarize themselves with their policies and policy providers, noting that intermediaries often facilitate contracts on behalf of actual entities. While his appeal was primarily related to homeowner’s insurance and hurricane preparedness, Rodgers also stressed the importance of life insurance and other insurance classifications despite the often high associated costs.

“Needs are needs and you cannot put a price on it,” Rodgers told Eyewitness News when discussing the cost of insurance.

As an advocate for insurance awareness, the Communication Department of the Insurance Commission is working to educate people on the necessity of insurance through its Consumer Awareness Campaign, available on the company’s website. The campaign aims to provide essential information for consumers about their policies.