The potential for hurricanes is one of the realities of giving on the Gulf Coast. In the aftermath of a major storm, many residents make hurricane insurance claims to cover the damages they’ve incurred. Filing claims may be the last thing you want to do, but the process is critical for managing home repairs and getting back to normal.
Did You Know? Eight of the ten of the costliest natural disasters in U.S. history have been hurricanes. The combination of floods, high winds, and storm surges can cause catastrophic damage to personal property and government utilities alike – knocking out power and air conditioning and exacerbating the problems on the ground.
If your home has been damaged by a hurricane, you can learn a lot from past victims of natural disasters who had to evaluate the damage, work with insurers, and endure the sometimes tedious process of recovery.
Hurricane Damage Caused by Flooding
One of the biggest misconceptions about hurricane coverage is the fact that it does not cover damage from rising floodwaters. Damage caused by wind-driven precipitation and water intrusion through the roof, windows, doors, or walls is generally covered by a homeowners insurance policy. However, damage caused by an overflow of a body of water or a storm surge is not covered and requires flood insurance in order for a homeowner to submit a claim. Several years ago, FEMA redrew their flood maps and made flood insurance a necessity for many Floridians – and mandatory for anyone with a mortgage and living in a flood zone of any designation. FEMA flood zones are explained here.
If your car was damaged by flooding from a hurricane or major storm, you are most likely covered as long as you carry a comprehensive coverage policy, which protects against physical damage that was not the result of a car accident. Water damage to cars often results in the car being declared a total loss. Here is an important tip from experts – be wary of purchasing a used car in the months following a major hurricane. Many times, owners are trying to get rid of vehicles that have suffered flood damage, but these cars can represent serious safety risks – from compromised airbags to faulty electrical systems.
Hurricane Coverage Under Your Homeowner’s Policy
While damage caused by high winds and rain driven by the wind are covered by a standard homeowners policy, many providers require separate wind deductibles, resulting in more expensive out-of-pocket costs. The deductibles are often calculated as a percentage of your coverage (typically 5-10%) rather than a specified amount. This can prove to be a shock for homeowners who think they have adequate coverage – if a home insured for $400,000 has a 10% wind deductible, the homeowner will be responsible for the first $40,000 of damages. This is why it is so essential to truly understand your policy – and what it does and doesn’t cover.
Resources for Homeowners Post-Hurricane
Emergency management agencies can provide links to resources for post-hurricane assistance.
- DisasterAssistance.gov
- FEMA
- SBA Disaster Loan Assistance, a low-interest loan available for homeowners and renters to repair or replace damaged property.
Call Your Local Insurance Professionals
There are several reasons that homeowners should seek the advice of a local insurance professional. It is important to review and understand every policy and identify any gaps in coverage before a hurricane is imminent. Carriers do not allow for changes to homeowner’s insurance – including wind damage riders – if there is a storm on the radar. Also, insurance providers have recently begun restricting coverage in regions frequently hit by natural disasters such as hurricanes, including much of Florida. This makes it challenging to find adequate insurance coverage in disaster-prone areas. If you are having trouble finding coverage for your home, call a professional insurance brokerage for help. Brokers work with many qualified insurers across the country and can locate the best coverage to provide the peace of mind you deserve.
Anderson & Associates Insurance Group is a trusted insurance brokerage located in Palmetto, Florida. We are happy to provide the invaluable guidance and knowledge you need to protect your family.
