Have you heard the term “hurricane insurance in Florida”? We all have. While this is a commonly used term, it sort of doesn’t exist. However, there is a combination of policies that can protect your home from hurricanes and there damages. If you are a FL resident and live in a hurricane zone, it’s recommended to purchase as much extra coverage as you can afford.
Florida homeowners is the first step when it comes to protecting your home. In fact, you may be able to supplement your policy with windstorm insurance or even flood insurance. A standard wind insurance policy can protect your home from some damages caused by strong winds. If heavy winds from a hurricane damage your home, your policy will help by reimbursing you for those damages. The first half of “hurricane insurance” is windstorm insurance. You can purchase this in addition to your normal homeowners policy. In this case, all wind damages will fall under this policy instead of your traditional homeowners. It’s also important to understand that windstorm insurance is usually offered to customers in the form of a rider.
Homeowners policies also exclude hurricanes and the damages that come along with them. For instance water damages due to flooding. In fact, flooding is the number one cause of damages in the United States, therefore, purchasing the right coverage is a smart move. Never assume that flooding can’t happen to you. As a Florida resident, it can easily happen.
While there is no such thing as hurricane insurance in Florida, you may be required to pay a hurricane deductible. A hurricane deductible is an amount that you must pay before coverage kicks in. These deductibles are separate from your regular homeowners deductible. Usually, a hurricane deductible is between 2-5% of what your home is insured for.
The second half of “hurricane insurance” is flood insurance. […]