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What Is Hurricane Insurance And What Are Its Benefits?

What is Hurricane Insurance and What Are Its Benefits?

Although they are not common everywhere, hurricanes have been attacking states such as Florida, North Carolina, and Louisiana for decades. Hurricanes can cause hundreds of thousands of dollars in damage to buildings, vehicles, and other items of personal property. Even if you are not in a state that is prone to hurricanes or wind storms, it is important to know the benefits of it and ask your insurance provider if it is right for you and your family. You can never be too safe when it comes to mother nature.

Although it is commonly referred to as “hurricane insurance”, there is actually no such thing. In reality, there are a number of plans that a family can purchase to protect themselves from hurricane damage. Hurricane insurance is highly recommended if you live in a hurricane prone zone, however, it is never a bad idea to invest even if a hurricane is not likely.

In states that are often hit with hurricanes, some insurance companies require families to purchase hurricane insurance. Many of these policies offer not only hurricane insurance, but coverage from wind storms, tornadoes, cyclones, and general wind damage. Even if it is not necessary in your state, it is not a bad idea to see if your insurance company offers it.

When dealing with hurricane insurance, it is import to keep the deductibles in mind. On top of your regular deductible, if you suffer hurricane damage, you have to pay a hurricane deductible as well. This deductible can range from about 2% to 5% of the value of your home.

In Florida, there is a rule which states everyone must be given the option to pay a $500 flat rate hurricane deductible. However, the monthly rate is often higher than a 2% or 5% deductible. If there are any issues, there are a number of property insurance attorneys in Florida that can fight for your best interest. Regardless, it can end up costing you tens of thousands of dollars before your home is repaired.

There are also a handful of stipulations that define whether or not you can be covered by the storm. For example, the storm has to be classified as a hurricane and it must reach onto land. You need to know the details of your hurricane insurance, as there is nothing worse than hurricane insurance claim denial.

The price of hurricane insurance can range depending on where you live, but it will often cost about $600 to $700. That on top of homeowners insurance can be quite a handful. However, if your home is struck by a hurricane, it is worth knowing that you will be covered.

Despite all of this, hurricane insurance is a rather important part of life depending on where you live. Many of the Southeastern states are plagued with hurricanes and windstorms, and need to stay educated on any changes that are made throughout the years. They can be the difference between repairing your damaged house or moving in with a friend or family member.

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