Long before a hurricane makes landfall, homeowners must assess their insurance needs. This is because most insurers don't issue policies when a storm is imminent. A number of factors influence the cost of hurricane insurance. These include where you live, how much your home is worth, and how much deductible you're willing to pay.
Hurricane insurance in Florida covers your home, your belongings and the additional living expenses associated with any wind-related claim up to the maximum limits of your policy. In Florida, hurricane insurance is mandatory for people who own and have a mortgage on homes or condominiums, including homeowners, in the form of a windstorm insurance policy. If a hurricane causes increasing flooding and water enters your home, flood insurance covers water remediation and repairs. We partner with the country's top home insurance companies so you can get a great policy at an affordable price.
Since hurricane insurance is included in Florida's home insurance policies, the average cost of hurricane insurance in Florida is already calculated in its premiums. In some states, such as Louisiana, Texas and Florida, companies may require you to take out an additional windstorm insurance policy in addition to your regular homeowners insurance policy. Universal Property & Casualty Insurance Company is a leader in providing Floridians with the best hurricane coverage in Florida at affordable rates. Most renters policies don't cover damage caused by floods to your property, whether it's a hurricane or other storm.
In addition to the premium, policies issued in states most susceptible to storms may include hurricane deductibles. States threatened by hurricanes often operate high-risk insurance groups that offer hurricane coverage, says David Miller, director of Brightway Insurance in Jacksonville, Florida. Check your policy documents or ask your insurance company when you'll have to pay your hurricane deductible. While all renters insurance policies in Florida cover damage caused by the hurricane to a tenant's belongings, renters insurance is not required by law.
If a hurricane is likely to hit your area sometime in the next few years and you live in a moderate area, a flood insurance policy is a good idea. Flood and wind damage to your car is covered as long as you have comprehensive insurance in your auto policy. And once a tropical storm is named or a hurricane alert is declared, it's unlikely that you'll be able to take out a policy to cover that storm. If you own a home or condominium in Florida, you will have a hurricane deductible that is separate from your regular policy deductible.
