Hurricanes are a major part of life in Florida, so it is crucial to know how hurricane coverage works. While most Florida homeowners insurance policies include some coverage for wind damage, there may be limits or special deductibles to consider.
What Is Hurricane Coverage?
“Hurricane coverage” generally refers to protection against wind damage from named storms, such as hurricanes or tropical storms. When you purchase Florida homeowners' insurance, it often includes wind coverage. However, some companies require you to buy a separate windstorm policy if you live in a high-risk area.
Hurricane Deductibles
In Florida, many policies have a separate hurricane deductible. Instead of a flat amount like $1,000, a hurricane deductible might be a percentage of your home’s insured value. For example, if your home is insured for $200,000 and you have a 2% hurricane deductible, you would be responsible for $4,000 before your insurance kicks in.
Compare Flood Damage Is Separate
It is important to remember that flood damage is not the same as wind damage. Standard Florida home insurance policies do not cover flood losses. If a hurricane causes a storm surge that floods your home, you would need a separate flood insurance policy to cover that damage.
Protect Your Property
To lower the chance of damage and possibly reduce your premium, invest in wind-resistant features. This can include hurricane shutters, impact-resistant windows, and a secure roof. Document these upgrades because some insurers give discounts for wind mitigation.
Plan Ahead
Hurricane coverage usually has a waiting period for any changes to your policy. This means you cannot buy a new policy or adjust your coverage at the last minute when a storm is already on its way. Plan ahead and review your Florida homeowners insurance policy every year, especially before hurricane season begins.
Understanding the details of hurricane coverage in Florida can help you protect your finances and your home. Know your deductible, consider windstorm upgrades, and do not forget that flooding requires separate coverage. By planning in advance, you can weather any storm with confidence.
