How to Protect Your Property from Hurricane Damage

By Diane Tait

Image courtesy Good Free Photos

A couple weeks ago I wrote a blog entitled, “Insurance Agents are Masters of Disasters” that extolled the virtues of contacting the people who know how to deal with calamities of all kinds.  This week, I want to take one additional step to show you how to prepare for a disaster that is all too common here in sunny Florida: Hurricanes.  In the past four years the Sunshine State has weathered two hurricanes that created more than $70 billion in damages.  While insurance can help mitigate the damage wrought by named storms like Matthew and Irma, what many homeowners and business owners don’t know is with a little foresight and preparation they can take a few steps that can both reduce the amount of damage done to their property, as well as making sure they get every penny that’s coming to them when they file a property damage claim with their insurer.

The time to prepare for hurricane season is NOW. – With hurricane season set to start in a little more than a month, the sooner you start preparing for stormy weather the better.  Most people wait until a storm is predicted to make landfall in Florida to start preparing for the worst and by then it’s too late.  Besides, it doesn’t take a named storm to produce wind and flood damage to your property.  All it takes is a thunderstorm to remind you that maybe you should have double checked your weatherstripping or cleared the debris from the sewer grating.  Since you’re housebound anyway due to COVID-19, this is the perfect time to perform a thorough inspection of your roof, windows and doors to make sure that they’re weather tight.  It also wouldn’t hurt to trim any tree branches that are hanging low enough to scrape against your roof and rake up fallen branches and leaf litter that could easily wind up clogging your gutters and stopping up your sewer the next time a gully washer passes through your neighborhood. 

When was the last time you spoke to your insurance agent? - What sometimes happens after a hurricane is that some homeowners are shocked to find that their property was inadequately insured in the first place.  If the last time you spoke to your agent was after Hurricane Irma rolled through town, then it’s high time you call to have your coverage assessed. Below are some of the items you should discuss:

     

Image courtesy Pixnio

1.      Does homeowner’s insurance cover hurricane damage? – The answer is yes and no.  It will cover damage due to the storm. But it doesn’t cover damage caused by flooding, even if the flooding was caused by the same storm.  For that, you’ll need a separate flood insurance policy.  What it boils down to is if your home loses shingles and this allows water to damage your home and your furnishings, this is covered by your homeowner’s policy. However, if flood water or sewer water backs up into your home, this is not covered without a separate flood policy.  Either way, if the storm happens to be a hurricane, you will also be required to pay a hurricane deductible of between 2%-10% of the value of your home. That means if your home is worth $100,000 and your hurricane deductible is 5%, you’ll be required to pay the first $5,000 before your insurer will pick up the rest of the assessed damage claim.

      2.      Do you rent your home? – If you rent, don’t think for a minute that your landlord is going to pay for damage to your property that’s caused by a storm.  While he or she may file a claim to make them whole again, the landlord’s coverage only extends to their property, not the tenants.  If you live in a hurricane-prone area, it would behoove you to look into acquiring renter’s insurance.  Not only will this help to compensate you should your possessions be damaged or destroyed by a passing storm, but it will also protect them against fire or theft.

      3.      Flood Insurance – Here’s another peril that many property owners fail to heed.  That’s because they assume that if their home or business isn’t located in a designated flood zone, then the chances of their home becoming flooded is nil.  This assumption couldn’t be further from the truth.  Not only can and do properties that aren’t in flood zones get flooded during named storms, but some get damaged by one of the passing thunderstorms that pop up almost daily in Florida during the summer.  When it comes to damage claims, floods top the list in payouts made by insurers in the US. That should tell you something.

Image courtesy needpix

      4.      Windstorm Insurance – Some insurance companies exclude damage caused by wind in their homeowner’s policies, especially if you live in a storm prone area such as Florida.  That’s the bad news.  The good news is you can add windstorm coverage for a fee. Make sure you read your insurance policy careful to determine what’s included and what’s excluded.  Better yet, call your insurance agent to ask about such things as exclusions and deductibles before hurricane season gets here, or you may not be able to amend your policy before a named storm hits.

      5.      Deductibles – If you live in a storm prone state like I do, you also need to fully understand the deductibles that kick in before a storm causes damage to your home.  As I mentioned earlier, hurricane deductibles are common in coastal states. But so are windstorm deductibles.  Just like hurricane deductibles, windstorm deductibles aren’t set at a fixed amount as are home insurance deductibles.  Instead of being say $1,000, deductibles for windstorm damage can be 1%-10% or your home’s value.   

Last but not least, if you do decide to look into either flood or windstorm insurance, make sure that the amount of coverage will prove sufficient to rebuild your home or business, as well as replacing the possessions contained within.  While your agent can help you determine the value of your property and possessions, don’t think that you have all the time in the world to amend your coverage.  Flood and windstorm policies typically have a 30-day waiting period before the coverage kicks in. When it comes to protecting your property from hurricane damage, if you snooze you lose.

Diane Tait owns and operates A&B Insurance.  To find out more about how you can save money on insurance, go to her site or fill out the form at right.