Hurricane Season Is Here! 3 Important Questions to Ask Your Insurance Agent
On August 20, 2015 the National Hurricane Center announced that Hurricane Danny is the first official hurricane of the 2015 Atlantic Hurricane Season. As a Florida resident, chances are you are all too familiar with hurricanes. As much as experts may try to predict what path a hurricane will take, there is really no knowing for sure exactly what a storm is going to do.
If you are a home owner, this is a great opportunity to make sure your homeowners insurance is up to par. It is important to understand what your policy covers and to ensure that your home, one of your greatest assets, is adequately covered.
Below are three most pressing questions East & Greenwell recommends asking your insurance agent this hurricane season:
Is my screened enclosure covered?
Screened enclosures (or pool cages) are extremely susceptible to damage from hurricanes. Many homeowners don’t realize how costly a screened enclosure can be to replace or repair if damaged in a storm. When in high demand (like after a hurricane), enclosures can cost around $20 per square foot.
Different insurance carriers handle screened enclosure coverage in different ways. Most insurance companies do not automatically include coverage for screened enclosures. Even if your enclosure is covered many companies will even depreciate the coverage (ACV).
If you have a screened enclosure, it’s extremely important to ask your insurance agent if your policy includes coverage. You should understand the coverage limits and how the enclosure is covered, Replacement Cost vs. Actual Cash Value (ACV).
Do I have flood insurance?
Many Florida residents don’t realize that homeowners insurance policies do not include any coverage for flood. Flood insurance has to be purchased separately if desired (or if required by the mortgage company).
This is relevant during hurricane season because the of the heavy rainfall and the possibility of a storm surge. Click here to get quote for flood insurance.
What is my hurricane deductible?
Did you know that Florida insurance policies contain a separate deductible for hurricane damage? Most of the time, the hurricane deductible is much higher than the non-hurricane deductible. It will be helpful to know how much you may have to pay out of pocket if your home is ever damaged in a hurricane.
At East & Greenwell we are passionate about helping you get the right coverage at the right price. We would love the opportunity to review your current insurance with you and see if we can help you get better protection at a competitive price. Contact us today to speak with one of our knowledgeable agents.