Hurricane Insurance VS. Flood Insurance
October 10, 2022
Hurricane is one of the most powerful North Atlantic hurricanes ever recorded. It was the ninth name of a devastating type of storm. Then the fourth name comes with a hurricane, and with the third major hurricane of the 2000 Atlantic hurricane season. Hurricanes can strike at any time.
You just have to make sure you are preparing well with hurricane insurance to control the upcoming financial cost due to the tide strikes.
One insurance means it’s a savior. When you have insurance, you actually get the money for any loss and the properties. Maybe it is not going to build up a wall, but it actually gives you the assurance that you do not have to spend any loss related to your properties.
Do you want insurance against natural disasters to protect your home and loved ones? So, which one do you choose?
Is Hurricane Insurance Covered Under Any Flood Insurance?
Hurricane insurance and flood insurance are very different insurance products. And, if you live in a coastal area, it’s essential to know the difference between the two.
While insurance policies can vary from company to company, some general flood insurance policy basics by hurricane attorneys in Florida will help you understand what is covered and what isn’t. The hurricane insurance in Hawaii is also the same as the insurance, which covers windstorm-related damage from the storm.
What Is Flood Insurance?
Flood and hurricane insurance are entirely different. Especially their insurance coverage parts. Insurance covers damage caused by a natural event: a river overflowing its banks or a tidal wave overwhelming low-lying areas.
Flood insurance is designed to protect your home and belongings against damage caused by flooding and any monetary losses resulting from being unable to use your property following a flood.
What Is Covered?
In the Hurrian insurance, every type of loss is included due to the Hurricane. But every type of insurance is different. Some of them cover the roofs some are not covering the other areas of the house.
So if you like to know about the terms and conditions of the insurance, the best possible way is to communicate with your agent before signing up for the agreed documents. And you will know all about the policy terms and conditions.
Flood coverage and hurricane insurance are typically included.
- Water damage is caused by water entering your home through broken pipes or sewage lines.
- Water damage caused by rising water in basements, crawl spaces or sub-floors
- Mud or sewage backup into a basement, crawl space, or sub-floor area of your home’s interior; may also include sump pump failure because of mechanical breakdowns or power outages.
- Losses resulting from electrical systems and appliances becoming inoperative because of wet conditions inside the house resulting from rainwater infiltration into walls, ceilings, and floors (such as dishwashers).
What Is Hurricane Insurance?
Hurricane insurance differs from flood insurance because natural events do not cause hurricanes but severe weather. Hurricanes form when warm tropical air rises into cooler upper atmospheric air and condenses into clouds and rain.
They can cause catastrophic damage if they hit land at full force, which is why homeowners living along the coast need to purchase hurricane coverage from their insurer.
How much is hurricane insurance? The amount is $2,555 per year. Yes, this is an average cost. Apart from this average cost, if you are considering buying one, escalate with the other companies and know the amount.
The main types of damages covered by a hurricane insurance policy include:
- Windstorm Coverage – This type of hurricane insurance coverage pays for repairs to your home’s roof, walls, and windows if high winds damage them during a storm. Water damage from rain is not included in this coverage.
- Hail Damage – Hail damage to your roof can occur during a hurricane or severe thunderstorm. Hail damage is not included in standard homeowners’ insurance policies or hurricane insurance. But must be purchased separately from your agent or broker.
- Flooding – Flooding is one of the most common types of hurricane insurance damage during a hurricane or tropical storm. A flood policy covers damage caused by water entering your home through the foundation or cellar doors if they’re covered under the policy terms and conditions (usually up to $1 million).
Something To Keep In Mind
For both types of hurricane insurance coverage, it’s essential to understand what is and isn’t covered under the policy. Losses not listed on your policy aren’t covered under any circumstance.
If you’re unsure about whether the damage is included in your policy’s definition of what is covered, ask your agent before filing a claim. Otherwise, you could end up with nothing after paying your premiums for years!
Choose Wisely!
Hurricane insurance and flood insurance are not the same. Flood insurance is your best option if you have a house susceptible to flooding. However, get windstorm or storm surge coverage if you live in an area that is likely to be hit by a hurricane.
Hurricane insurance is a great savior for every homeowner. Hence in specific areas of the US, often tornadoes and hurricanes can strike any time, anywhere. This is the reason insurance needs to be well-prepared to cover all the losses.
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