Hurricane insurance tends to be one form of coverage that many homeowners do not think about until one of these powerful storms passes by their property. Anyone that lives in an area that is prone to hurricanes should consider this additional coverage to help them repair or rebuild their property after a storm.
Check Your Current Policy
The first thing that homeowners should do is check their current policy or speak with their insurance provider about what is currently covered. Home insurance policies are often very specific on what they do and do not cover. An example of this would be insurance for flood damage. These policies might not cover water damage from specific sources such as a city water line or pool. Some basic home insurance policies might cover a small portion of damage from the wind and wind-drive rain. For those that live in an area prone to hurricanes, however, this might not be enough.
How Does This Insurance Work?
Homeowners should begin by taking a look at the value of their home and the property inside. These policies will cover some or all of the damage to the actual structure and foundation of the home. You can also choose a policy that covers the belongings within your home. This typically includes clothing, furniture, and electronics. Expensive possessions that are stored within your home such as jewelry, antiques, and firearms are not generally covered in a basic policy.
Determining Your Premiums
Hurricanes are relatively common in many areas, but homeowners will need to weigh the risks versus the rewards. All families that are in a high-risk area should have a hurricane insurance rider and keep the deductibles to a minimum. Families that have a low chance of experiencing a hurricane might want lower premiums with higher deductibles. You can also carry out some simple steps to protect your home and keep premiums to a minimum. This includes adding wind-resistant roofing, upgrading to storm shutters, and installing garage braces. All areas of your home should have at least two layers of water protection such as roof sheathing and a sump pump.