With predictions of 19 to 25 total named storms this season, and the subsequent flooding that is often hand in hand, now is the time to make sure your insurance holds up, rather than waiting until you suffer a loss not covered under your policy.
Most standard homeowners and renter insurance plans will cover structural damage to your home or apartment as a result of hurricanes or windstorms; however, there are certain policy adjustments you should be aware of as they may impact your payout.
When reviewing your policy, here are the items you should prepare to speak about with YUR agent.
Look For Additional Deductibles
Hurricanes and windstorms often fall under a different deductible in a homeowners policy. Make sure you review your policy and understand your deductible.
Where you live and the risk factor for hurricanes or windstorms may impact the total amount of your deductible. This deductible may be expressed as percentages of the insured value of your home, rather than a dollar amount.
Review Disaster Exclusions
Every insurance policy outlines what it does cover, but it also often outlines what it does not cover. Look for exclusions related to hurricanes or wind damage such as flooding, which causes damage in 90% of all natural disasters, or sewage backups. Talk to YUR agent about how to add coverage for flooding and sewer backups to your policy if they are listed as exclusions.
Inventory Your Home Possessions
Inventorying your belongings helps ensure that you are properly insured to replace your items if necessary. It can also help you provide proof of loss and could drastically expedite the claims process in the chance of a loss.
Ensure Your Policy Covers Rebuilding Your Home
You may assume that if your house is destroyed by a windstorm or hurricane, the cost of rebuilding your home would fall within your homeowners insurance policy but that is not always the case. The cost of rebuilding or repairing extensive damage to your house depends on the cost to rebuild, which is not the same as the real estate appraisal of your home.
If you have any questions when it comes to your insurance policy and hurricane coverage, call on the agents at The Yurconic Agency at 610.770.6600. We are standing by to help!