Insurance Commissioner Offers Tips to Missoula Storm Victims

Missoula, MT (KGVO-AM News) - Montana Commissioner of Securities and Insurance Troy Downing was on Wednesday’s Talk Back show to answer questions from listeners about how to handle insurance claims from last week’s storm.

Downing began by advising home and business owners to keep complete and accurate records of any storm damage.

Insurance Commissioner Downing had Advice for Storm Victims

“Our best advice is to keep really good records,” began Commissioner Downing. “If you have any expenses that are potentially insurable, such as if you're displaced, because some insurance policies will have living expenses while you're displaced, make sure you keep really, really good records.”

Downing said if you don’t get the help you need from your insurance company, to contact his office for help.

Downing said His Office Can Help with Companies that Don't Respond

“Contact your insurance company as soon as you're safe and able, and if you have issues or questions about your policy that are not adequately responded to or answered by your insurance company, then absolutely call our office,” he said. “We've got a great team of people answering the phone and questions that understand insurance law in Montana and understand how to read policies, and our number is 406-444-2040.”

Downing said homeowners must understand that inflation has deeply affected the construction and building products industries.

“Since inflation is going up on building materials, on costs of labor, on replacement costs, on auto parts; if inflation is hitting the cost of repair, the insurance company still needs to have the money to be able to pay that,” he said. “The problem really is economic and fundamental. The problem is about inflation.”

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Downing also Put Blame for Inflation on the Biden Administration

Keeping in mind the fact that Downing is also running for Congress to replace Matt Rosendale, he placed the blame for inflation squarely on the Biden Administration.

“If we want to see premiums or rates on insurance go down, then the cost to replace and repair needs to go down, which is a fundamental economic inflationary issue,” he said. “I think we've seen almost four years of crazy spending, and that's the number one thing that we need to deal with to fight back.”

Click here to listen to the entire conversation with Troy Downing.