Hurricanes are a common natural disaster in Florida, and they can cause significant damage to homes and property. As a homeowner in Florida, it’s essential to understand whether your homeowners insurance policy covers hurricane damage and what other coverages you may need to ensure your property is completely protected against these natural disasters.
Here’s what you need to know about whether or not home insurance covers hurricane damage.
How Does Home Insurance Cover Hurricane Damage?
Homeowners insurance typically covers damage caused by wind, including hurricanes. However, not all policies are the same, and coverage may vary depending on your policy and chosen insurance provider. Homeowners insurance policies typically include the following coverages, which can help pay for damages after any covered hazard damages your home, including hurricanes.
Dwelling coverage
Dwelling coverage protects your home’s structure, including the walls, roof, and foundation, from damage caused by wind and other covered perils, such as fire and theft. This coverage typically pays to repair or rebuild your home if it’s damaged or destroyed by a hurricane.
Other structures coverage
Other structures coverage protects detached structures on your property, such as sheds and garages, from damage caused by wind and other covered perils. This coverage typically pays to repair or rebuild these structures if they’re damaged or destroyed by a hurricane.
Personal property coverage
Personal property coverage protects your belongings, like furniture, clothing, electronics, and jewelry, from damage caused by wind and other covered perils. This coverage typically pays to repair or replace your belongings if a hurricane damages or destroys them.
Loss of use coverage
Loss of use coverage pays for additional living expenses if your home is uninhabitable due to hurricane damage. This coverage typically pays for hotel stays, meals, and laundry services.
This coverage may also kick in if you are ordered to evacuate by local authorities due to a hurricane or another natural disaster.
How Much Hurricane Coverage Do You Need?
The amount of hurricane coverage you need depends on the value of your home and property. If you’ve improved your home or purchased expensive items, you may need to increase your coverage limits. In general, you should opt for replacement cost coverage. Replacement cost coverage will pay to rebuild or repair your home to its original quality based on current construction and material costs. You should also adjust your personal property coverage limits as needed to ensure you can replace all of your valuables if they are lost after a hurricane.
How Hurricane Deductibles Work in Florida
In Florida, homeowners insurance policies typically have separate deductibles for hurricane damage. Hurricane deductibles are often a percentage of your home’s insured value and can be much higher than your standard deductible. For example, if your home is insured for $300,000 and your hurricane deductible is 5%, you’ll be responsible for paying the first $15,000 of hurricane damage before your insurance coverage kicks in.
Reviewing your policy’s hurricane deductible and understanding how it works before a hurricane hits is essential. You should also set aside an emergency fund to cover your deductible if necessary.
Does Homeowners Insurance Cover Flooding From Hurricanes?
Homeowners insurance policies typically do not cover flooding from hurricanes or other sources. If your home is in a flood zone, you may need to buy flood insurance through the National Flood Insurance Program (NFIP).
Flood insurance covers damage caused by flooding from hurricanes, heavy rain, and other sources. It’s important to note that there is typically a 30-day waiting period before flood insurance coverage takes effect, so purchasing flood insurance well before hurricane season is essential.
Additional Coverages to Consider
There are several other coverages that homeowners in Florida may want to consider to ensure they have adequate protection for their homes and property.
Flood Insurance
Flood insurance is essential for homeowners in Florida, as flooding is common during hurricane season. However, as mentioned earlier, homeowners insurance policies do not typically cover flooding from storm surges, so homeowners must purchase a separate policy. Flood insurance can cover damage to your home and personal property caused by flooding from hurricanes, heavy rain, or other sources.
Debris removal coverage
Debris removal coverage is another coverage that homeowners in Florida should consider. Hurricanes can cause significant damage to homes and property, and debris removal can be costly. Debris removal coverage pays for removing debris from your property, including fallen trees, damaged structures, and other debris caused by a hurricane. Remember that some homeowners insurance policies may limit debris removal coverage, so homeowners should review their policies carefully to ensure they have enough coverage.
Water backup coverage
Hurricanes can cause flooding and water damage, and water backup coverage can help cover the cost of repairs. Water backup coverage typically covers damage caused by water that backs up into your home through sewers or drains. This coverage can help pay for repairs to your home’s structure and personal property.
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Homeowners in Florida should review their homeowners insurance policies carefully to ensure they have adequate coverage for hurricane and wind damage and other potential hazards such as flooding, debris removal, and water backup.
At Levay Mack Insurance Group, our primary goal is to share our insurance knowledge so that you know what protection you are buying with your hard-earned money. With over 45 years of experience and as one of the largest independent insurance agencies in South Florida, we are proud to offer access to the top-rated carriers in the insurance industry.
Levay Mack covers Florida from Palm Beach, St. Lucie and Brevard Counties! To learn more about our home insurance policy options, contact us today for a free quote!