So I was reading up on hurricane insurance, and it turns out there isn’t actually a single policy called ‘hurricane insurance.’ You have to get separate coverage for things like wind and flood damage. Has anyone dealt with this before? I live in a coastal area, so I’m wondering what kind of coverage is best.
Yeah, I learned that the hard way. I thought my homeowners insurance covered everything, but I had to get flood insurance separately. Definitely worth looking into if you’re in a high-risk area.
Keegan said:
Yeah, I learned that the hard way. I thought my homeowners insurance covered everything, but I had to get flood insurance separately. Definitely worth looking into if you’re in a high-risk area.
Same here. I live in Florida, and windstorm coverage is a separate policy too. I ended up going with a state-run pool because my regular insurer wouldn’t cover it.
@Kip
Wow, I didn’t know windstorm insurance could be separate too. Good to know before it’s too late.
Make sure to check your deductibles too. I have a separate deductible for hurricanes, and it’s a percentage of my home’s value, not a flat rate like my regular insurance deductible.
Zen said:
Make sure to check your deductibles too. I have a separate deductible for hurricanes, and it’s a percentage of my home’s value, not a flat rate like my regular insurance deductible.
That’s a good point. My deductible was 5% during the last storm season, which ended up being way more than I expected. It’s not something most people realize until they get hit with a claim.
Flood insurance is a must if you live anywhere near the coast. I got mine through the National Flood Insurance Program, and it’s pretty affordable considering the risks.
West said:
Flood insurance is a must if you live anywhere near the coast. I got mine through the National Flood Insurance Program, and it’s pretty affordable considering the risks.
I got mine through NFIP too. It’s not perfect, but it’s better than getting stuck with no coverage after a storm.
@Jordan
Agreed. I had a friend who didn’t have flood insurance and the damage was crazy expensive to fix. Not worth the risk.
One tip: make sure to buy flood insurance before hurricane season starts. There’s usually a 30-day waiting period before it kicks in, and by the time a storm is forecasted, it’s too late to make any changes.
@Tait
Exactly. I made that mistake once and had to ride out a storm without proper coverage. Never again.
Anyone here with experience in state-run windstorm pools? I’m thinking of switching since private insurance has gotten so expensive in my area.
Rowe said:
Anyone here with experience in state-run windstorm pools? I’m thinking of switching since private insurance has gotten so expensive in my area.
I’m in Texas, and I use the Texas Windstorm Insurance Association. It’s a decent backup if your private insurance won’t cover wind damage, but it can be pricey depending on your location.