13 Oct Everything You Need to Know About Home Insurance and Tropical Storms

Tropical storms and their stronger counterparts, hurricanes, do more than just bring heavy winds to the shores of storm-prone areas. They also cause storm surges, flooding, and a number of other issues that can lead to the destruction of your home and its contents. What can you do to ensure that your belongings are properly protected?

Standard homeowner’s insurance provides some protection, but it doesn’t cover everything. Here’s what you need to know to protect what matters most.

A Standard Homeowner’s Insurance Policy

Your coverage starts with a standard homeowner’s insurance policy. Since there aren’t any specific hurricane-related policies that stand on their own, you need basic coverage so that you can expand on it with supplemental policies.

In general, homeowner’s insurance covers everything from your home itself to the items within it. It will also provide some coverage for living expenses that occur if you end up getting displaced due to the storm.

These policies usually consist of several different coverages, all grouped together. They will cover:

• Your Home – Make sure that the total amount of coverage that you have is enough to pay to rebuild your home should it get severely damaged in a hurricane. If you’re worried that you don’t have enough coverage, speak to your insurance agent.
• Other Buildings – These policies also cover other buildings on your property, such as garages. The insurance on them usually consists of 10% of your total coverage amount. For example, if you have $300,000 worth of coverage, you’ll receive $30,000 to replace these other buildings.
• Personal Property – Unless you have something very valuable in your home (like jewelry or a painting, which requires a special rider), your homeowner’s insurance will reimburse you for between 50 and 70% of the worth of your furniture, clothes, appliances, and more.
• Extra Living Expenses – If you end up displaced, you’ll receive some reimbursement (the amount depends on the insurance company) for any additional expenses that you incur while waiting for your home to get repaired. This includes hotel rooms and other things.

Hurricane Deductibles

Depending on where you live, your insurance may be subject to something called a hurricane deductible. This amount is charged as a percentage against the total amount of your claim, so it would be subtracted from the total amount paid out by your insurance company should a hurricane hit your home. Usually, a hurricane deductible is around 10%.

Supplemental Insurance Policies

In addition to your homeowner’s insurance, there are some supplemental policies that you can receive to cover everything from flooding to debris removal. These special policies can even cover water backup, in case the sewers flood and water enters your home.

Since standard homeowner’s insurance does not cover flooding, and it may not have enough to pay for the removal of all of the debris left behind by the hurricane, it’s a good idea to purchase supplemental policies.

Contact Spivey Insurance

Have questions about whether or not you have enough coverage during hurricane season? Or want to purchase a new policy? Contact Spivey Insurance today, and our helpful agents will ensure your family and home are protected against Mother Nature’s storms.