Residents of Georgia, North, and South Carolina are preparing to be hit by the category 3 Hurricane Florence. The National Hurricane Center says that Florence will become an extremely dangerous storm during Thursday and Friday. Reports are estimating that millions of people, as well as billions of dollars in property damage, are at risk. This is why considering hurricane insurance is always the best route to take.
There are some important aspects that we need to consider when we live in an area prone to hurricanes. First, we need to know if our home insurance policy covers the expenses of hurricane damage. We also need to know what hurricane insurance covers and what it doesn’t. This way we will make sure we are protected in case a hurricane hits.
Is Home Insurance Enough to Protect My House?
Depending on the insurance company and the state you live in, homeowner insurance might offer some hurricane protection. Some policies offer wind damage coverage, but some others require you to purchase a separate policy or add-on to get such protection.
Make sure you read your insurance policy and getting in touch with the company to clear any doubt always helps. Understanding how much protection we have and preparing for possible expenses is never a bad idea.
What Does Hurricane Insurance Cover?
Since companies do not offer “hurricane insurance” policies per se, we must understand our homeowner’s policy. As we mentioned before, home insurance usually comes with wind damage coverage. This will be of great help if our windows or home structure got any damage during a storm or hurricane.
Most home insurance companies include a hurricane deductible. This tends to be of around 1 to 5 percent of our insurance valued. Keep in mind that, regardless of the expenses caused by damages, we will need to pay the deductible.
What Doesn’t Hurricane Insurance Cover?
Even though our home insurance should cover most of the hurricane and windstorm damages, there are certain exclusions. Flood damage is one of them. If your company does not offer the option of flood damage coverage, you can get protection from the National Flood Insurance Program.
Flood damage can be quite expensive and making sure you’re protecting your home and possessions is a must. Regarding flood damages to your car, your car insurance should cover the expenses. But just as with home insurance, we recommend contacting your policy carrier and ensure your hurricane insurance prep is taken care of before the storm.