Floridians are no strangers to severe weather, especially now that hurricane season is here. These powerful storms have the potential to completely obliterate a person’s house. For this reason, many people in Florida have insurance that protects against the threats posed by a hurricane.
Defining hurricane insurance
You may be surprised to learn that there is not a single insurance policy referred to as “hurricane insurance.” Instead, you may have to carry insurance against the two primary sources of hurricane damage: flooding and wind. This may mean you need to purchase two separate policies to be fully covered in the event of a hurricane. Most homeowner’s insurance policies do not protect against floods. Thus, you may want to purchase separate flood insurance. In addition, you may need to purchase a separate windstorm insurance policy as homeowner’s insurance policies in certain states will not cover wind damage.
In Florida, insurers are required to offer policyholders hurricane deductible options. The options include $500, 2%, 5% or 10%. In addition, in Florida homeowners are only responsible for paying one deductible even if their home is subjected to more than one hurricane. Once you meet your hurricane deductible, the general deductible will apply to future hurricane storm damages.
Learn more about insurance in Florida
Hurricanes can be some of the most destructive storms in the world. It is important to be prepared with adequate insurance. This post is for educational purposes only and does not contain legal advice. Our firm’s website may be a useful resource for those who want to learn more about insurance law.