What is Your Hurricane Insurance Plan?


Protection you Get with Hurricane Insurance

While warm areas like Florida or the Carolinas are a great place to call home, hurricane season can quickly change your definition of paradise. Most of the time, the weather is gorgeous and peaceful, but when a hurricane hits, the weather can turn into a destructive force of nature.

The most important thing in a hurricane is making sure you and your family are safe, but it helps to know that your assets are protected with hurricane insurance.

Benefits of Hurricane Insurance

There are many benefits for having hurricane insurance, but, in general, the biggest benefit is protection from wind-related damage. The wind is one of the biggest factors in a hurricane. In fact, hurricanes, by definition, have winds of 74 mph or more. Wind speed have been clocked above 170 mph, which can cause major catastrophic damage. Even the relatively slow 2014 hurricane season saw very destructive winds, with some storms reaching 100 mph, enough to cause major damage to siding and roofs, as well as uproot or snap smaller trees.

While all policies are different, with hurricane insurance, the damage that is caused by these winds will be covered. This can include the replacement of stripped shingles, broken windows, and damaged doors. Garage doors are actually one of the most vulnerable parts of your home, as winds can push and pull on lighter garage doors, causing them to bend, snap, or even pull them off completely. With most hurricane insurance policies, this damage will be covered.

Water Damage Caused By Winds

It’s important to note that water damage that is directly caused by the wind will be covered by most policies, but general flooding will not be covered. For example, if heavy winds tear off a section of your roof, allowing rain to damage your carpet, the repairs will be covered in most cases. However, if your home takes on water due to flash flooding, most hurricane policies won’t pay for these damages. In this case, you would need flood insurance to cover the water damage.

Considerations Before Buying Hurricane Insurance

Before signing up for hurricane insurance, understand that there are many factors involved, and you need to go over all of them to make a well-informed decision. First of all, the cost of hurricane insurance will vary, based especially on the value of your home and the risk level of your area. If you own a modest home in a low-risk area, you can probably find a very affordable rate. If, however, you have a luxury home in a high-risk area, the price of hurricane insurance will be higher.

Also, you will want to thoroughly review your current home insurance policy. There may be certain wind-related coverage already available, meaning hurricane insurance is not needed. On the other hand, you may find that nothing of the type is covered, so signing up for insurance before the hurricane season may be important.

In many hurricane-prone areas, like parts of Florida, Georgia, California and Texas, having hurricane insurance is required by certain banks for mortgage approval, so you may be paying for some form of hurricane insurance already. The most important thing is to review it thoroughly.

If you need help, talk with an expert from the South Florida community, contact us today. Our agents will be able to take a look at your current policy, the value of your home, and your current risk level to see if hurricane insurance is right for you.