Storm Damage Policies: Don't Get Rocked By A Hurricane

E.J. Simonsen | Jul 9, 2019

Hurricane season is a threat to our coastline; although, many Texans are still trying to recover from Harvey.

Colorado State University has predicted that we will have "slightly above-average" hurricane activity this season; also citing that the Gulf Coast has a 38 percent chance of being hit again this year.

Since we're in the midst of hurricane season, this is a good time for homeowners to check their insurance policies to see what is covered before a hurricane develops.

Are You Ready to Face Another Hurricane?

In coastal states, any damage caused by a hurricane or named storm qualifies for a separate deductible. Homeowner policies in 19 states, Texas being one of them, have some version of storm deductibles.

Typical homeowner policies have a flat deductible for losses like theft or fire damage, but hurricanes work differently. They are usually set as a percentage of the home’s insured value.

Some policies may have separate percentage deductibles for wind and hail damage that apply even without a major named storm. So read your policy or contact the insurance company and specifically ask what your policy covers and how the deductibles work.

Additionally, it's important to know your policy limit and whether you have enough to rebuild should your home be destroyed. You may also want to consider increasing your limit to account for potential living expenses in the event that you'll be without work due to a natural disaster.

Standard storm damage policies cover wind damage, but not flood damage. To be covered for flood damage, you need a special flood insurance policy purchased through the National Flood Insurance Program.

The Time to Act is Now

It's best to prepare for a possible storm before a hurricane forms, as once a named storm is in the Gulf of Mexico, it's too late to obtain coverage.

Check and double-check your homeowners’ insurance policies to know exactly what is and isn't covered in case your home does experience storm damage. If your home has been damaged, read our blog You've Experienced a Loss, Now What? or our comprehensive guide, 6 Colossal Mistakes Homeowners Make With Insurance Claims to learn what steps you should take next.

If you have questions about your insurance policy or want more information on homeowners insurance in general, click the button below to schedule some time to talk with us.

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