Hurricane Insurance is made up of a collection of some insurance policies that cover separate aspects of home damage. There isn’t a singular policy that covers both wind and water house damage. This is not to say that you cannot get your home insured of the same. It is very much possible.
It just requires your understanding and a guided selection of what would be the best combination for you. Ideally, there are three parts to a Hurricane Insurance. Below is a description of what you need to know about hurricanes and insurance for your home.
What is a hurricane?
A hurricane is a very strong and violent wind that occurs around a body of water. Now you may think you do not need this kind of insurance because you do not live close to a body of water. What you need to know is that this strong and violent wind has the ability to push the water inland causing massive floods hundreds of miles away from the source. With this in mind, here are the four options that can give you the right hurricane cover over your home.
Homeowners Insurance
Whether you live in a hurricane-prone area or not, homeowners insurance is the most important insurance cover you should have. This is because our homes are where we spend most of our times and where most of our valued possessions are kept. If damage was to happen to your home, it would be devastating if everything went down the drain without some sort of compensation.
That being said, it is important to note that homeowners insurance alone cannot act as a complete Hurricane Insurance alone. This is because most insurance policies have outlined the specific kinds of damages they cover. These may include burglary, a fire or limited damage from external elements such as a tree falling on your roof thereby destroying it.
With regard to hurricane damage, most homeowners insurances will cover damage such as ripped sides or shingles. However, that goes just that far. You will need some sort of additional coverage for all the damage a hurricane may cause on your home. The cost of homeowners insurance depends on the cost of your house. The more value your house has, the higher the cost of coverage will be.
Wind Insurance
A wind insurance, when combined with home insurance may be able to cover any sort of damage that your house faces from a strong wind. The best part about this cover is that all and every form of damage caused by the wind is covered. This includes tornadoes and cyclones. In case you live away from the water body and you feel flooding is not a huge threat, then wind cover is important because any part of the country is vulnerable to wind damage.
Flood Insurance
You should be able to know whether your area is flood-prone though by referring to your state’s map or doing research on the internet. It is important to note that Flood Insurance is a bit costly because the damage that flood water does is high compared to other elements.
It is estimated that even an inch of water in your home can cause up to $10,000 worth of damage. As a result, you are entitled to a claim as high as $30,000. However, due to its costly nature, if you feel and/or know that the chances of a flood in your area are less than 20%, you can forego this option. Just make sure to completely eliminate the possibilities, because wind and home insurance policies may not be able to assist you once the damage is done.
Conclusion
With the knowledge of these options, you are now able to make the decision on how to get an ideal hurricane insurance for your home. It is important to always be prepared because no one ever knows for sure what might happen.
Contact us today for a consultation and quote at (772) 287-3625.