In light of recent events, and given the fact that the Atlantic Ocean currently has three storms, two of which are hurricanes, I thought it would be a good idea to help everyone know an idea on what they should know about your homeowners insurance BEFORE a hurricane strikes. If you live on the coasts of Florida and the Eastern Seaboard, or you live anywhere along the Gulf of Mexico, it is not a matter of IF a hurricane with strike your area, it’s a matter of when. That is why you should know BEFORE a hurricane strikes what your homeowners will/will not cover, or what your policy says concerning things like wind damage, flooding, and contents.
I know hurricanes are tramatic events, I have lived through some horrible ones (Andrew, Opal, Katrina, Rita, Gustav, and a few others). I also know that hurricanes disrupt your life for several weeks, and sometimes, months afterward. That is why you should know what your homeowners insurance will/won’t cover before a hurricane strikes. Below are a few things you should know about your homeowners insurance when it comes to hurricanes.
4 Things You Should Know About Your Homeowners Insurance Before A Hurricane Stikes
1.) Flooding will NOT be covered!!
When it comes to flooding, no matter it’s cause, it WILL NOT be covered by your homeowners insurance. I have found that many people think that because flooding is caused by a hurricane, that the damage will be covered by their homeowners insurance. Let me be clear: Flooding is NEVER covered by your homeowners insurance. Ever! If you want flood coverage you MUST purchase a flood insurance policy. While hurricanes can, and often do cause flooding, they are considered separate events, thus in order to protect your home and valuable, you must have a flood insurance policy in place before a hurricane strikes. Remember: there is a 30-day waiting period on ALL flood insurance polices before they go into affect.
2.) Wind damage may not be covered.
It is super important that policy owners read and understand their policies, whether they have a homeowners, auto, boat, rental, commercial, etc. The key to understanding what you are paying for, is to read your policy, and understand what it says. Which brings me to this point: There are some homeowners insurance policies that DO NOT cover wind damage. That is why you MUST know what your homeowners insurance policy says and what it is covering!!
When a hurricane strikes, a great deal of damage will be caused by the wind that accompanies the hurricane. If your homeowners insurance policy excludes wind/hail damage you are left with the bill of repairs. That means you have NO coverage for the damage caused by the wind of a hurricane.
Who is most exposed to this? Allstate clients are the first to come to mind, but there are other companies that don’t cover wind/hail damage as well.
However, that doesn’t mean you are without options. You can find companies that will offer just a wind/hail policy, or companies that offer coverage based on the value of your home. The best thing to do is to know what your homeowners insurance policy coverage, and seek out the protection you need if you are at risk.
3.) Rebuilding costs may/may not be covered.
Rebuilding is part of the recovery after a hurricane, and often times it is a slow and vey frustrating process. However, something that clients often overlook when it comes to rebuilding after a storm is the cost of rebuilding, inflation, and the demand for contractors. There are times when a clients homeowners insurance policy will not pay for some rebuilding costs. The best thing to do in order to find out whether something will be covered when it comes to rebuilding after a storm, is to read and know what your policy says BEFORE a storm. If you ever have questions when it comes to what your homeowners insurance policy does/does not cover, ask your agent, or contact your insurance company directly. There are policies that can be purchased that cover inflation, or the increased rate of services after a storm. Ask your local insurance professional if you have questions, or email me at email@example.com
4.) Identity Theft may not be covered.
It happens……especially after disasters. We saw it here in Louisiana after the flood in 2016. People having their identities stolen. Often times it happens when people put property on the side of the road for pick up after a disaster. Things like check stubs, old checks, person info, etc. that thieves can take and use, or sell to others. I HIGHLY recommend identity theft insurance (which I sell) because identity theft is now the #1 crime in America!! If you would like some information on how to get protection shoot me an email at firstname.lastname@example.org or give me a call at 225-266-4573. I would be glad to help get the protection you and your business needs from hackers and breaches.
When it comes down to it, the best thing you can do is find out what your policy says BEFORE a hurricane or other disaster strikes. Knowing how your policy works, what is in it, what coverages you have or don’t have are key when it comes down to recovering, and making the claims process easier.
If you have a question concerning your homeowners insurance policy shoot me an email at email@example.com or give me a call at 225-266-4573. I would be glad to help you better understand your homeowners insurance policy.
Until next time,