If you’re lucky enough to live in Florida, you know that hurricane season begins June 1st and expires on November 30th. And during this time, insurance can be a complicated and challenging subject for many people. Everyone understands that they need some type of coverage, but you may need help understanding your policies and what you really need.
Understanding Your Homeowner’s Policy
Insurance is one of those things that people typically buy, then never look at again until they need it. So as we head into hurricane season, we’re sharing some tips that will help all insurance consumers exercise better judgment when purchasing or reviewing their coverage.
Review your homeowner’s declaration page.
The declaration is a good place to start to get an overview of the coverage included in your policy. It contains details of what your policy covers as well as the deductibles. In states where homeowners are more vulnerable to high-risk events like hurricanes, the monetary total of a deductible should be listed.
Flood insurance doesn’t cover everything.
As part of FEMA’s definition of what a flood is, two or more properties must be underwater. This definition is how insurance companies typically determine what is covered.
Policies don’t take effect immediately.
The effective date when people actually become protected under a policy varies. You should check your policy to confirm when your policies take effect. The National Flood Insurance Program established a 30-day wait period so that people buy insurance instead of waiting for the water to rise.
Know what activates your policy.
Both insurance companies and states have stipulations that need to be met before a deductible can take effect. The triggers may include events when a:
- A tropical storm is elevated to a hurricane;
- The storm is officially named;
- Hurricane reaches a certain category;
- Warning or watch is declared.
Auto Insurance:
Making a decision between comprehensive and collision-only auto insurance plans is challenging for people who might feel the value of their car is not worth getting complete coverage. However, when it comes to damage from a storm, comprehensive plans are the best choice to protect your car.
Choosing insurance is not an exact science. Policies are personalized to meet your exact needs. Researching your options to find the best choice for you is critical to making sure you’re prepared when hurricane season rolls around.
At the end of the day, your best option is to have a local agent who has your best interests in mind. We take the stress off of you and ensure you have the insurance coverage you need. Don’t take any chances with Mother Nature – contact us today so we can make sure that you and your home are prepared this hurricane season!
P.S. From 2016 through 2018 the hurricane season brought us devastating storms, including Matthew, Harvey, Irma, Maria, Florence, and Michael. Click here to view a list of hurricane names for the 2019 season.