Do You Need Hurricane Insurance?

In previous posts we have discussed whether you need earthquake insurance or flood insurance. Today we talk about the final items in our troika of natural disasters: hurricanes.

The main damage from hurricanes is caused by high winds which can pry roofs off and create structural damage to homes. In the past, homeowner’s insurance usually covered wind damage. However, with the high cost of recent hurricanes in Louisiana and Florida, many insurers have started to drop this coverage.

As hurricanes occur more frequently than floods or earthquakes, it is usually easier to determine how susceptible your house is to hurricane damage. If you talk to neighbors who have lived in the area for awhile you can often get a sense of how badly hurricanes hit your locale. In general, houses near coastlines or in low lying areas face a greater risk of damage from hurricanes.

Check with your insurance company to see if wind damage is covered by your policy. If not, and you know you are at risk for hurricanes, you should consider purchasing coverage for both wind and flood damage.

Renters generally have it easier when it comes to wind damage coverage. There is a lower risk of damage to personal property in the event of high winds, so wind damage is usually covered by renters policies. However, if there is any doubt it’s best to review your policy or call your carrier to make sure.