Hurricane Insurance in Fort Myers: All You Need To Know
Here Is What You Should Know About Insuring Your Fort Myers Home Against Hurricanes
Hurricanes are a force to be reckoned with, as the damage goes beyond the coastal areas. The tropical storms can cause flooding and wind damage to homes. Shockingly, one inch of property damage alone can cost $20,000. Before a hurricane strikes, homeowners should assess their insurance needs.
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Hurricane Insurance: What’s Covered?
Hurricane coverage varies from state to state. Technically, there’s no single policy known as hurricane insurance. Instead, one needs to insure the home against the twin sources of hurricane damage: water and wind.
Generally, homeowners insurance covers storm damage from wind and wind-driven rain as an insured peril. However, it doesn’t cover damage caused by flooding.
Homeowners insurance may be sufficient for some people but if you live in a high-risk flood zone, you must purchase flood insurance as well.
Thus, you need both flood insurance and homeowners insurance to be fully protected from hurricane damage.
To claim the insured amount from insurance companies, a hurricane has to be a declared event. The natural disasters are dictated by an announcement from the National Hurricane Center.
How much does hurricane insurance cost?
Several factors influence the cost of hurricane insurance. These include the location of the home, the total worth of the personal property, and how much deductible you’re willing to pay.
According to the National Association of Insurance Commissioners (NAIC), the average annual home insurance premium in the United States in 2017 was $1,211. In addition, the average flood insurance premium is about $830 annually. Together, the expenses make up to $2,041 per year.
Besides the homeowners and flood insurance, there are some people that may not have coverage for wind events unless they purchase a separate “wind only” policy. The cost for a wind only policy varies geographically. This is fairly uncommon, and most people will have wind and all other perils covered under one policy. Flood is generally the only policy that will need to be purchased in addition in order to cover a home, condo or rental property completely.
Though it seems a huge expense, just an inch of flood damage alone can cost up to $20,000 to repair.
Choose Cathy Sink as your Insurance Provider!
Are you looking for professional & affordable hurricane insurance in Cape Coral, Southwest Florida? Your search ends here at Cathy Sink!
Our approach uses underwriting and actuarial guidelines to ensure that your insurance program is optimized for the best coverage and best pricing.
We offer customized policies of hurricane insurance in Fort Myers. While strong wind-driven damage is covered under homeowners insurance, flood insurance takes care of the water damage.
Our flood insurance coverage policies as a part of hurricane insurance in Cape Coral, Lee County include:
● Standard Flood Insurance: It will be rated based on things such as the elevation of your home, and construction.
● Preferred Flood Insurance: Preferred flood-rated policies mean that you are not in a zone that requires you to have flood insurance necessarily.
