When owning property in a hurricane-prone area, being prepared is a necessity. As policyholders with properties in these areas, you have the means to safeguard your investments and set yourself up for a smooth recovery process. Here are five key things to look for to ensure that you have the proper hurricane insurance coverage:
Windstorm and Hurricane Coverage: Your Essential Defense
When considering your insurance policy, start with Windstorm and Hurricane Coverage. This coverage is your essential defense against the destructive impacts of hurricanes. Make sure your policy includes protection against wind-related damage, such as roof damage and shattered windows. This coverage not only shields your property but also provides you with peace of mind.
Flood Insurance: Comprehensive Protection
In hurricane-prone zones, flooding is a major concern. While Windstorm and Hurricane Coverage are crucial, they may not cover flooding resulting from storm surges or heavy rainfall. To address this gap, think about adding a separate Flood Insurance Policy. This comprehensive coverage takes care of both structural damage and your belongings in the event of flooding.
Additional Living Expenses (ALE) Coverage: Your Support System
After a hurricane, your home might be uninhabitable due to extensive damage. This is where Additional Living Expenses (ALE) Coverage comes into play. ALE ensures you have support for temporary housing, meals, and other necessities while your property is being restored. This provision in your policy can greatly ease the challenge you face during the post-hurricane period.
Named Storm Deductibles: Know the Details
Understanding your policy’s deductibles, including Named Storm Deductibles, is crucial. These deductibles apply specifically to damage caused by named hurricanes or tropical storms. Keep in mind that these deductibles are often higher than your standard deductible. Knowing these details can help you avoid unexpected financial setbacks.
Timing is Key: Act Before the Storm
One must remember that once a hurricane is named, you cannot modify an insurance policy. Taking a proactive approach and reviewing/updating your coverage before a hurricane approaches becomes essential. At Premier Claims, we dedicate ourselves to equipping policyholders like you with knowledge and foresight, ensuring you prepare well in advance.
We have partnered with the Merlin Law Group to provide extra insight on the importance of hurricane coverage. Anthony Pinot of Merlin Law Group stated, “as The Policyholder’s AdvocateTM, Merlin Law Group knows it is essential for policyholders to take the time now to make sure you are prepared for hurricane season and are not caught off guard. Merlin Law Group has created guides specifically for assisting policyholders in preparing for hurricane season. For residential policyholders, they have a Hurricane Checklist with tips on safeguarding your home and reviewing your insurance policy. They also have a Condominium Hurricane Preparedness Guide for multi-family properties.”
In conclusion, as industry leaders, we’re committed to supporting you not just as policyholders, but as individuals seeking security and recovery after a hurricane. Premier Claims is here to guide you every step of the way. For a complimentary policy review, fill out the form below. Your peace of mind is our ultimate goal.
