Why You Need Hurricane Insurance Now

Although you can’t predict when a hurricane will make landfall in Florida, there is an elevated risk of a large storm hitting the Fort Myers area each year between June and November. Therefore, it is a good idea to get additional insurance to make sure that you are financially protected if your home or business is destroyed due to flooding or wind damage. What specifically does hurricane coverage provide?

It Typically Provides Protection Against Flooding

A traditional homeowners policy is not going to provide any protection against flooding. This means that you would have to pay to repair your home, pay to purchase property lost or destroyed in the flood and handle any business losses that you may experience. With hurricane insurance, you may be reimbursed for costs related to rebuilding your home and replacing some or all of your property. If you buy property coverage, you will be given the fair market value of depreciated property. If you purchase contents insurance, you will be given the actual amount that it costs to repair or replace items lost or damaged in the storm.

Physical Storm Damage May Be Covered as Well

In the event that your roof is blown off due to high winds, having additional coverage may help you pay for the cost of replacing shingles or to put on a new roof. If your windows are blown out or a tree falls through your home, having additional coverage may make it easier to have your insurance claim approved. Although homeowners insurance policies may cover damage due to high winds, they may not cover damage caused by hurricanes as they may be considered to be an Act of God and not applicable under your current policy.

Your Policy May Not Begin Right Away

You should expect to wait 30 days from the time that you bought your policy for it to take effect. In other words, if you buy your policy on June 1, it won’t take effect until July 1. If a storm were to hit during this period, you wouldn’t be able to make a claim even if it was a valid one. Therefore, you should buy a policy as soon as you think that you may need it.

Homeowners who live in areas where the odds of a hurricane making landfall are probable in any given year should think about purchasing hurricane insurance right now. It will make it easier to repair or replace anything that is damaged or destroyed in a storm. Buying a policy now can help you prepare for a natural disaster now even though you hope it doesn’t happen at all.