How To Avoid Being Ripped Off After A Hurricane

If you too have suffered storm damage, here are a few points to keep in mind.

• Don’t trust any contractor who uses high-pressure sales tactics. If he asks for full payment upfront, you need to run away as quickly as possible.
• Make sure to avoid door-to-door solicitors. Storm chasers rush to areas affected by disasters. Be wary of them and decline the offer politely.
• Do not let anybody inspect the property damage in your absence. If you already have homeowners’ insurance and are about to file claims, be sure to be present during the inspection.
• Also, never tell your bidding contractors how much your homeowners’ insurance policy covers. A few of them might smartly estimate the cost of repairs equal to that amount.
• Before settling on a contractor, make sure to verify his license. You may also ask for local references.
• Avoid making large down payments. Do not deposit an amount more than 1/3rd of the total cost of the job in advance. Withhold the rest until the job is satisfactorily done.
• Ensure that you purchase the policy from an experienced and certified agent. A credible agency will provide you the exact options available, when it comes to deductibles, coverage and policy details.
• Always know your insurance rights. While purchasing a homeowners’ insurance policy from a trusted agency is important, it is equally critical to learn about the claim settlements, coverage, etc.

Getting a Hurricane Insurance: A Proactive Measure for the Hurricane Season

Factors such as global warming have caused hurricanes to grow in intensity as well as frequency. For homeowners living along the coast, it is essential to learn about the different hurricane coverage policies.

Truly speaking, there is no separate hurricane insurance coverage. The homeowners’ insurance policy has a separate windstorm insurance cover in the form of additional hurricane deductible. It is the extra amount paid by the homeowner to cover the damage caused by wind damage.

Usually, the hurricane deductible of range $500-$1000, 2 percent, 5 percent and 10 percent of the policy dwelling or structure limits. The percentages are based on the total value of the home. It is usually more for older homes.

Florida is most commonly affected by hurricanes. Thus, most companies charge an annual hurricane deductible for windstorm insurance. It means that homeowners in Florida are not required to pay a deductible each time their home is damaged by a hurricane.

The deductible is commonly referred to as ‘storm deductible’. It is the extra out-of-pocket amount incurred by the policyholder before the actual coverage kicks in.

Most homeowners’ insurance policies cover the damage caused by the wind and the rain driven by it. However, they do not cover the flood damage. Hence, you will be required to purchase extra flood insurance coverage to cover losses and protect your property from flood damage.

The hurricane insurance coverage options vary based on the state and location. They determine how prone your property is to storms. For instance, coastal areas being more prone to hurricanes require extensive hurricane cover.

Besides homeowners’ insurance, landlords’ insurance also covers hurricane damage. In some cases, the landlords may also get reimbursed for the lost rent through insurance policy, if the home is under repair.