Hurricane season is here for coastal parts of the country. And while non-coastal areas may not be directly affected by hurricanes, everyone is susceptible to detrimental weather events, such as tornadoes, hail, severe thunderstorms and flooding. As a result, your property could suffer significant damage. Our team at Stewart Insurance and Risk Management wants to make sure you are properly insured before disaster strikes. Here are four insurance coverages to consider:
- Home or Apartment
Storms cause immense damage to homes and personal property year after year. When you review your policy, the first step is to make sure your policy coverage limits – the maximum dollar amount for protection against losses – are up to date. The limit on your home should match the entire cost to rebuild. Similarly, your personal property limit on your homeowners or renters policy should be the amount needed to replace all personal belongings within the residence. The loss of use component on your home or renters policy has a limit for alternate living arrangements if your home or apartment becomes uninhabitable.
You should also confirm your policy includes replacement cost coverage, ensuring the value of your home and belongings will not be depreciated based on age and condition.
Thunderstorms, hurricanes and tropical storms bring massive amounts of rain and a strong likelihood of flooding. Coverage for loss or damage to your home or belongings due to flooding is excluded from almost all home insurance policies. Flood insurance provides separate coverage if your home or belongings are damaged due to rising water.
Every home has the potential to flood and is therefore in a flood zone. Your location determines if you are in a high, moderate, or low-risk flood zone. Even if you are not in a high-risk zone, moderate to low-risk zones still account for over a third of the disaster assistance for flooding.1
- Wind and Hail
Wind and hail is another area of coverage to review, as hurricanes and tornadoes make their way into the forecast. Wind and hail can be included or excluded from your policy depending on your location. If you have a separate policy, check your coverage limits, deductibles and replacement cost, just as you would for your home insurance. High-speed winds can damage your roof and siding. During a storm, damage to these areas could cause further damage within the home.
- Auto and Recreational Vehicles
Don’t forget about the potential impact of weather on your vehicles. Your auto and recreational policies should include comprehensive coverage for damage or losses caused by rain, wind, hail or flooding. Make sure your deductibles accurately reflect the amount you are able to contribute to repair your vehicle after damage or loss.
Be sure to take extra precautions as we enter storm season and secure coverage before a storm threat. Remember: once a storm is named, you may not be able to secure or update these policies. To talk to one of our agents about your coverage options, email firstname.lastname@example.org or call (866) 845-4676.