The Facts on Hurricane Insurance

The sad facts associated with the 2018 hurricane season brought about a great many realizations about the limitations of typical homeowners insurance, and many Gulf Coast homeowners have found themselves at odds with their insurance companies when trying to collect on the replacement costs of their homes. The fact is that those who live in flood plains, or in areas prone to hurricane damage, should look into the purchase of flood insurance, and do it as quickly as possible.

There is no special insurance policy designed to cover damage from hurricanes, but there is flood insurance, and this is an important consideration. That is because flood damage is not covered by standard homeowner’s insurance. Fortunately, flood insurance is offered to those who need it through the Federal Emergency Management Agency (FEMA). In many cases insurance companies who do business in flood prone coastal regions will bundle their FEMA supplied flood insurance with the homeowner’s policies they offer. Those homeowners who are unsure of their coverage should be sure to contact their insurance agent.

It is of course important for homeowners to assess their own risk of flood and hurricane damage when considering their insurance needs. The largest hurricanes are almost always associated with damaging storm surges, and these storm surges can easily cause flood damage that will not be covered by a standard homeowner’s insurance policy. For most homeowners living in flood prone areas the peace of mind associated with flood insurance is more than worth the extra cost. Whether the flood damage is caused by the wind driven rain associated with a hurricane or by a traditional flood, this special type of insurance will cover what the traditional homeowners policy does not.

Using a combination of traditional homeowners insurance and flood insurance will protect the homeowners in flood prone areas from the risks associated with living in such a dangerous location. It is important to look carefully at the area where you live and to determine how much insurance you need. The insurance company will help you assess the risk and buy the appropriate amount of flood and homeowners insurance.

No matter what type of insurance you buy, or how much insurance you need, it is a good idea to keep your insurance policy and associated records somewhere other than the home itself. Keeping the policy in a safe deposit box or other safe location will greatly assist you when it comes time to file a claim.



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