Hurricane insurance

Summer is just around the corner, and that means hurricane season is almost upon us. While not all regions in the U.S. are going to be affected by a hurricane this year, homeowners need to be aware of the dangers of these types of storms and how to protect themselves with home insurance coverage. CoverHound is here to tell you what you need to know about hurricane coverage and whether you and your finances are in danger as a result of dangerous weather.

Who needs it
Hurricane coverage is not included in a typical homeowners insurance policy and generally needs to be purchased separately similar to flood insurance. While this is an additional cost, it is necessary for homeowners who are in a high-risk area. A general home insurance policy may cover damage from hurricane winds but not any damage caused by flooding. This leaves some holes open for homeowners in areas that are considered high risk for flooding and other severe weather. In some states and cities, flood and hurricane insurance are required to protect homeowners from the financial downfall of a natural disaster.

Homeowners who are not required to buy this type of coverage may think they don't need it, and therefore put themselves at risk by foregoing extra insurance. Imagine if you were to lose all the contents in your home as a result of a hurricane or need to do major home repairs after a flood. Though you weren't expecting it to happen, these events can occur suddenly and without warning. If this were to happen to your home, could you pay for the repairs and to replace your belongings without insurance? If the answer is no, you are throwing caution to the wind without coverage.

What to cover
When you're getting ready to purchase additional hurricane protection for your home, you need to know what you already have covered in your homeowners insurance policy. In many cases, you already may be protected from wind damage caused by severe storms - including hurricanes. However, it can be a good idea to double check the policy for wind damage.

Next, you need to determine how much coverage you need in the event of a flood, including damage to your home and the cost of replacing any destroyed belongings. You will want to ensure this figure is accurate, or else you are still putting yourself at risk by not having adequate coverage.

The best time to get coverage with a homeowners insurance policy is before anything happens to your home. While you might not think anything is likely to occur, unexpected storms pop up all the time. Don't wait until a hurricane warning is already active, as it will be too late to get a policy that will be effective by the time the storm hits. To find affordable policies, comparison shop between insurance providers to ensure you get the right coverage.

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