Good hurricane insurance is an important purchase for anyone who lives in regions of the country at risk for hurricanes. This kind of insurance can also provide coverage from tropical storms, as well.
The two major categories of damage this type of policy covers include wind and hail. Usually, the largest monetary damages will result from wind, but it is important to keep in mind that hail can also be a source of significant damage to property. When considering a policy, it is important to remember that any damages resulting from flooding will not be covered. No company includes flooding coverage in a hurricane policy. Separate flood insurance must be purchased. However, any and all structural damage resulting from wind and hail are covered.
This insurance differs in that the deductibles are usually designated as a percentage of the damages, as opposed to a specific dollar amount. This is due to the fact that hurricanes will often inflict enormous damage, completely destroying homes and other structures. Policyholders should know clearly what the deductible is when receiving a policy quotation, and then they can have a general idea of how much money they might be out of pocket when a claim is filed.
There is a distinct probability that the traditional property insurance that you presently own will not pay out for damages due to such previously mentioned severe storms. Although your current policy will likely cover such events as fire or a tree limb falling on your roof, an insurance provider will see a hurricane quite differently. Hurricanes inflict damage across a wide swath of territory and often result in huge monetary liabilities for insurance providers. This is the reason for hurricane coverage being sold separately from a homeowner’s policy.
Read the policy details of your current coverage carefully, knowing that as a property owner who resides anywhere near areas prone to tropical storms or hurricanes, you will probably need to obtain this important type of insurance to be fully protected. Without proper coverage you can be one natural disaster away from being financially devastated.