21 Jun Hurricane Season Helpful Hints
Hurricane season is always a touchy subject, but insuring yourself against them is a must. Homeowners insurance can help keep you and your loved ones on your feet in the event a storm hits your area. When it comes to protecting yourself from hurricanes, you can never know enough. Here are some helpful excerpts to help you stay ahead of the storm.
To start, know when hurricane season is. The season stretches from the beginning of June to the end of November, but storms have still occurred on the outskirts of this timeframe. Keep up with weather reports.
Hurricane deductibles are higher than those of other causes of loss. They can be calculated as a percentage of the dollar amount of coverage on the dwelling, or as a flat dollar amount like standard deductibles.
Replacement cost coverage. This occurs when you file a homeowners claim, the insurance company will calculate how much to pay based on the cost to replace your property with new property of the same kind and quality. If your policy covers items within the home for its actual cash value, the insurance company will deduct depreciation from the overall value before arriving at a dollar amount. If you have replacement cost coverage, no depreciation is deducted.
Flood insurance is not included in a homeowner’s policy. In areas with increased flood risk like New Orleans, flood insurance is a separate entity that should be invested in.
This year’s hurricane season is predicted to be near average, based on the storm count of years passed. This prediction comes from meteorologists from Colorado State University. This means you can expect 12 tropical storm formations and five becoming hurricanes. Two of the five are expected to be major, category three and up. Now is not the year to take risks.
Louisiana has the third highest home insurance premiums, behind Texas and the number one, Florida.
Know your coverage, and know how to get the best out of your insurance policy.