You may not reside in an area where hurricanes and other tropical disturbances are common, but don’t make the mistake of thinking you can’t be touched by one of these storms.
On occasion, significant storms with tropical origins have been known to travel up the east coast and cause substantial damage; a prime example being Superstorm Sandy – which made an unpredictable landfall in the New Jersey/New York area in 2012 and caused approximately $70 billion in damage.
So what if a similar storm affected you? Do you know if your home is properly protected by insurance?
It’s best to get in touch with your independent insurance agent whenever you have questions about your policy; but let’s cover a few details right now about hurricanes vs. insurance.
Firstly, while standard homeowners insurance generally covers your home’s structure in the event of weather related damage, there are some things you should know.
If a tree comes crashing through your kitchen window or a strong gust of wind tears your roof off, chances are you are covered - but there are some exclusions (which vary) and it is common for insurance companies to require separate deductibles in their homeowners policies for coverage regarding damage caused by hurricanes and/or windstorms.
In addition, your standard homeowners insurance doesn’t account for flooding – which is a common ramification of hurricanes.
To reiterate: flood coverage is not included in your homeowners policy; you are not covered for flood damage unless you have a separate flood insurance policy.
This is a mistake many folks don’t realize they’ve made until it’s too late. In fact, this issue comes up just about every time large scale flooding occurs – even if there wasn’t a hurricane involved. Dozens of people will call to report flood-related claims, but many of them never purchased flood insurance.
That’s why we recommend if you live in an area that is prone to flooding (i.e. close to a lake or marsh) that you consider investing in flood insurance.
After all, it is to be better safe rather than sorry.
Ultimately, that’s the premise of all insurance – you never want to actually need it, but if there comes a time when you do, it’s better to be prepared.
Have any other thoughts or questions about insurance? Reach out to us at (607) 535-6501 or visit us at 219 S Catherine St., Montour Falls, NY.