Does Your Insurance Cover Hurricane Damage?

If you've dealt with hurricanes before or recently moved into an area known for them, you better pay attention and check on your home insurance policy.

The thunderstorms moving across the Caribbean Sea will likely turn into Tropical Storm Cristobal by early next week, Bloomberg reported. The system is currently north of the Virgin Islands and has reached an 80 percent chance of becoming a tropical storm, according to the U.S. National Hurricane Center in Miami.

There's also a possibility it'll be upgraded from a tropical storm to a hurricane. If the storm collects more and reaches winds of 39 mph it'll be the third named storm in the Atlantic hurricane season this year, which spans from June 1 to Nov. 30.

For people living inside the range of Atlantic hurricanes, a small to large amount of property damage is expected. High winds and torrential rains can ruin roofs and cause floods. Having the proper insurance coverage is crucial to making it out of the storm with minimal financial hardship.

If you're worried about the potential oncoming storm, review your home insurance policy to see if wind, hail and flood damage are covered. Typical policies often don't cover hurricane or flood damage. If you haven't specifically asked for coverage or bought a separate policy, you may be in trouble if a storm hits.

If you don't have the right amount of insurance coverage, contact your current provider or use CoverHound to shop around for new homeowners insurance.

After you've updated your insurance coverage, make sure you take an inventory of your home and property, including taking pictures or video of the contents of your house. If anything is damaged in the hurricane, you'll be able to provide accurate records to the insurance company with your claim.