If you live in an area that experiences frequent hurricanes, you need to make sure that your house is as protected as possible. Holding a hurricane insurance policy is one way to do that. Your homeowner’s insurance may not cover the damage a hurricane can do. As you look for the perfect policy, you need to keep several things in mind so you can find the right policy.
1. You May Have an Additional Deductible
You may have to pay an additional deductible if you live in an area that has a historic record of getting hit by hurricanes. For example, even though all of Florida may get hit by a hurricane, certain parts of Florida get hit more frequently than others. This can include oceanfront property, which is more at risk for damage due to the storm surge.
2. You May be Able to Add a Rider to Your Current Homeowner’s Insurance
If you already have homeowner’s insurance, you may be able to just add in a rider that will cover the hurricane damage. Wind and rain are extremely damaging, and paying to repair that damage can be very expensive. But, getting that damage repaired can go a long way to making your house livable again.
3. You Will Need to Have Separate Flood Insurance
No homeowner’s insurance policy covers flood insurance. Most states have an exchange where you can get your insurance. You can also choose a national flood insurance program, and many insurance companies carry flood policies. Flood insurance is a good idea because hurricane winds can drive water in front of them.
4. You Need to Plan Ahead
If you try and get your hurricane insurance the day before the hurricane is due to hit, you may be out of luck. Many insurance policies, including flood insurance, have a waiting period before they go into effect. If a hurricane or flood hits during that waiting period, you aren’t covered. You need to get your hurricane insurance ASAP.
5. You Need to Think About Total Replacement Costs
The hurricane may leave your house completely unrepairable. That’s why you want to have coverage that will cover the full replacement cost of your house, including the contents. If the worst does happen and your house is completely destroyed, you will be able to rebuild because you got the full replacement costs covered with your insurance.
6. You Should Think About Bundling Your Insurance
When you are getting your hurricane insurance, you should look at all the various insurance companies and get a number of quotes to get the best price. Make sure to talk to your current insurance agent and company about bundling your insurance for a better premium rate on all the insurance policies they carry for you.
7. You May Want to Retrofit Your House
Retrofitting your house means that you are bringing it up to as close to current hurricane building codes as possible. Not only will that help keep your house from getting less damage, but retrofitting to the newest hurricane-resistant tech may also help to bring down your homeowner’s and hurricane insurance rates. Keeping your policy rates low allows you to get more insurance for your buck.
Hurricanes are going to happen. That’s just part and parcel of living in Florida. Come see us at Family Insurance Centers to get hurricane insurance for your home. We can talk to you about your home, situation, and needs. Then we can match you with the perfect insurance for you so that you have the coverage that you are going to need the next time a hurricane starts brewing.