There are 2 parts of a hurricane to be concerned about when thinking of your Florida Homeowners Insurance: wind and flood. Most standard homeowners insurance policies in Florida will cover damage to your home and personal property from a variety of perils, including windstorms. However, it’s important to understand that there may be limitations or exclusions for certain types of damage, such as flooding or wind-driven rain.
Hurricane: Wind vs Flood
The difference between hurricane wind and hurricane flood coverage is a critical aspect of homeowners insurance in Florida. It seems pretty straightforward, right? Well after Hurricane Katrina, many lawsuits were filed over which was which along with the anti-concurrent clause in most of the policies. (Learn More.)
Hurricane Coverage – Wind
Hurricane wind coverage provides protection for damage to your home and personal property caused by high winds, such as those generated by a hurricane. This type of coverage typically includes protection for damage to the structure of your home, as well as for your personal property inside the home assuming your policy doesn’t have a wind exclusion.
In Florida it is common to have a deductible that is a percentage of your dwelling coverage. It is usually a calendar year deductible and 2% of the dwelling is most common for home policies. There are some higher and lower, though, so make sure to review your declarations page.
Hurricane Coverage – Flood
It’s important to note that standard homeowners insurance policies typically do not cover damage from flooding and you want to review the wording of any exclusions. Flood insurance, on the other hand, provides protection for damage caused by flooding, which can be a common occurrence during a hurricane. Flooding can result from rising water levels due to heavy rainfall, as well as from storm surges caused by strong winds.
Flood insurance is usually a separate policy if you choose to purchase it, and it is a good thing to consider just about anywhere in Florida. Flood insurance is offered through the National Flood Insurance Program (NFIP), which is run by the Federal Emergency Management Agency (FEMA) as well as private companies. At Think Safe Insurance, we have access to both of these options, and would be happy to help if you have questions or need a quote.
Hurricane Coverage Tips
When purchasing homeowners insurance in Florida, it’s essential to understand your policy’s limitations and exclusions, and to make sure you have the right coverage in place to protect your home and property in the event of a hurricane.
Related: Hurricane Preparation Guide
Here are some tips for making sure you have the right coverage in place:
- Review your policy carefully: Take the time to review your homeowners insurance policy carefully, and make sure you understand what is and isn’t covered. Pay special attention to the policy’s limitations and exclusions, and be sure to ask your insurance agent any questions you have about your coverage.
- Purchase additional coverage if necessary: If your policy has limitations or exclusions for certain types of damage, such as flooding, consider purchasing additional insurance coverage to fully protect your home and property.
- Shop around for the best rates: Insurance rates can vary significantly from one insurer to another, so it’s a good idea to shop around and compare rates from several insurance companies before purchasing a policy. This is one of the great reasons to work with an independent insurance agent who works with multiple companies, like Think Safe Insurance. They can gather all your info once, and then basically do all the work for you.
- Consider the deductible: The deductible is the amount you pay out of pocket before your insurance kicks in. When choosing a policy, consider the trade-off between a lower premium and a higher out of pocket expense, and choose a deductible that you’re comfortable with.
- Protect your home from severe weather: Taking steps to protect your home from severe weather, such as installing hurricane shutters or reinforcing your roof, can help to lower your insurance rates and protect your home and property in the event of a storm. If you haven’t have a wind inspection, it is almost always worth it, especially for homes built before 2003. We work with some great inspectors across the state, so feel free to ask us if you need a good recommendation.
- Store important documents in a safe place: Make sure you have copies of important documents, such as your insurance policy, stored in a safe place, such as a fireproof safe or a secure online storage system. This will make it easier for you to access these documents in the event of a storm.
Hurricane Coverage – Conclusion
In conclusion, having the right homeowners insurance coverage in place is essential for protecting your home and personal property in the event of a hurricane. By taking the steps in this article, you can protect your home and personal property and have peace of mind during hurricane season.
If you have any additional questions or need a quote for any of the coverages discussed here, give our team a call at 813-425-1626 or request a quote online.