Hurricane Season is Here: Are You Covered?
We’ve all been watching the devastation caused by Hurricane Beryl, the earliest storm to develop into a Category 5 hurricane in the Atlantic. So far, Beryl has caused at least 11 deaths as it passed through the Caribbean on its way to Texas and there are nearly 3 million homes without power, many suffering from flood and wind damage.
Prepare for Hurricane Season in South Carolina
We know what damage big storms like this can cause. South Carolina ranks fifth among states for the most hurricane impacts so when hurricane season starts on June 1st, it’s time to make sure we’re prepared. Especially as the 2024 hurricane season is predicted to be explosive and intense. Experts forecast 20-25 named storms, including 8-12 hurricanes, four to seven major hurricanes, and four to six direct U.S. impacts. South Carolina is likely to see some big storms in 2024!
When we see the impact these weather events have on our neighbors, not only do we encourage you to do what you can to help them [donations?], we also recommend that you evaluate your own protections against wind, rain and weather damage. We get asked a lot of questions about hurricane insurance and how it works so here is some basic information.
Doesn’t My Homeowners Insurance Cover Storm Damage?
Every policy is different but things like hail, wildfires and often wind damage are traditionally covered by your homeowners insurance. However, there are lots of nuances to policies based on where you live and the specific policy you have. It’s a good idea to review your coverage with your agent so you know exactly what is and is not covered in your policy.
What is Hurricane Insurance?
There isn’t a single policy known as “hurricane insurance.” Instead, you’ll need to insure your home against the two main sources of hurricane damage: water and wind. Depending on where you live, you may need to buy separate policies to ensure adequate hurricane coverage:
- Flood Insurance: Most homeowners insurance policies don’t cover floods, including water from a storm surge. To get coverage, you’ll need flood insurance.
- Windstorm Insurance: Homeowners insurance policies in coastal areas of some hurricane-prone states won’t pay for windstorm damage. If you live in one of these areas and want coverage, you’ll need to buy a separate windstorm insurance policy.
Does Homeowners Insurance Cover Hurricane Damage?
A standard homeowners insurance policy typically won’t cover flooding, but you can buy flood insurance separately through the National Flood Insurance Program or on the private market.
Many major insurers provide flood insurance through an arrangement with the NFIP, so you can probably buy it from your home insurance agent.
In most states, standard homeowners policies cover damage caused by wind, including hurricanes. But if you live in a high-risk coastal area, you might need to buy separate windstorm insurance, either through your insurance company or a state-run insurance pool. Wind coverage might also be available as a rider on your current policy. Windstorm insurance covers damage from any strong wind, not just hurricanes.
Tips for Buying Hurricane Coverage
- Ensure Adequate Coverage: Whether you’re buying home, flood, or windstorm insurance — or all three — make sure you have enough coverage to pay for the full cost of rebuilding your house and replacing your possessions. We can help you determine the right amount.
- Don’t Delay: Flood insurance policies usually impose a 30-day waiting period between the time you buy and the time coverage takes effect. And insurers typically won’t adjust your coverage once a storm is forecast.
- Compare Quotes: Any time your policy is up for renewal, you may be able to save money by comparing home insurance quotes to find a lower rate for the same coverage.
Stay Ahead of the Storm
Make sure your home and possessions are adequately protected. Contact us today to review your coverage options and make any necessary adjustments.
Most importantly. Stay safe out there. If there’s a weather event predicted, please take necessary precautions. We don’t want to be talking about life insurance with you!
