Hurricane Insurance
The hurricane season begins in June and ends until November. If you are living near the coastal area, it is wise to consider buying Hurricane Insurance. A typical insurance policy covers wind damage and can also cover fire, vandalism, debris removal and repair that is a result of a hurricane. This will protect you from great stress during and after hurricane season.
Here are some tips to guide you when buying Hurricane Insurance:
1. Buy your hurricane insurance way before the hurricane season. Most insurance companies will not issue new policies during hurricane season so make sure to buy ahead of time.
2. Know your risk level. Learn how a hurricane can affect your home. Know the risks and make adjustments if needed. If you live in a flood prone area, get a separate Flood Insurance as flood damaged to your house is not covered by Hurricane Insurance.
3. Get enough coverage and know what your policy covers. Make sure that even the contents of your home are covered and not just the house itself.
4. Find out how your insurance policy pays. Determine if your policy pays replacement cost or the actual cash value. Know if they offer “Additional Living Expenses” in case your house is severely damaged that you will not be able to live there.
5. Make a documented inventory of your possessions. This will help you get an accurate insurance settlement and/or tax deduction of losses.
In the event that your house is damaged by a hurricane, call your insurance company as soon as possible and give the best description of how damaged your home is. If you need to stay in another place because of the damage, make sure that you give your insurance company all your contact details. It is important to photograph the damage and make a complete inventory. Document everything and take note of the names of everyone you have talked to from the insurance company. If you are not satisfied with the settlement, go back to your agent or insurance company and talk with the head of the claims department. You also have the option to get a public insurance adjuster to assess the damage to your home. You can also file a complaint with your state insurance department and wait for their decision.
