Courtesy of iii.org
The beginning of what could be an "above-normal" 2020 hurricane season in the Atlantic is a month away and homeowners, tenants and business owners are advised to prepare now.
"As much as we live today with the unimaginable effects of COVID-19, we must remind residents along the Atlantic and Gulf coasts to remember that it only takes a hurricane or tropical storm to ravage communities and crush lives." in Sean Kevelighan, VD, Triple-I. “We encourage residents to take a moment to ensure that you have adequate financial protection for your property and belongings while taking steps to make your home or business more resilient to wind and water. Since we all need to stay home longer, it is even more important to make ourselves more resilient to natural disasters such as hurricanes.
The hurricane season in the Atlantic begins on June 1
Review your insurance coverage
Make sure you have the right type – and amount – of property insurance. Triple-I recommends that you do an annual insurance review of your insurance with your insurance staff.
Standard homeowners insurance covers the structure of your home for disasters such as hurricanes and storms, along with a host of other disasters. It is important to understand the factors that can affect your insurance payment after a hurricane and adjust your insurance accordingly.
At least go through the insurance page for your insurance. This information sheet on one page contains information about how much coverage you have, your deductibles and insights into how damages will be paid.
"You should ask your insurance staff if you have the right insurance coverage to rebuild or repair your home, to replace its contents and to cover temporary living expenses if your property is uninhabitable," says Kevelighan. “You should also ask about flood insurance, which is separate and complements traditional homeowners and small business insurance. Ninety percent of natural disasters involve flooding.
Flood insurance, which is a separate insurance from your property protection, is offered through FEMA's National Flood Insurance Program (NFIP) and several private insurance companies.
Another common exception to a standard homeowners policy is sewer backup (not covered by flood insurance either). Backup drains can cause thousands of dollars in damage to floors, electrical systems, walls, furniture and other belongings. Sewer safety insurance is particularly beneficial in hurricanes.
Protecting Your Vehicles
Comprehensive car, which is an optional cover, protects your vehicle from theft and damage caused by an incident other than a collision, including fire, flood, vandalism, hail, falling rocks or trees and other dangers.
Make sure your holdings are adequately protected
Imagine the cost of repurchasing all your furniture, clothing and other personal belongings after a hurricane. Whether you have a home insurance or a tenant insurance policy, your insurance provides protection against loss or damage due to a hurricane.
Creating an inventory of your belongings and their value makes it easy to see if you are insured enough for either compensation cost or the cash value of the items. Creating a photo or video directory of your home's possessions will also speed up the insurance claims process if you sustain damage from a storm.
Make your property more resilient
Invest in items that will harden your property against wind damage, such as a wind-rated garage door and storm hatches. Triple-I also recommends that you have your roof inspected annually by a licensed and tied contractor to ensure that it will withstand strong winds and heavy rain.
Other Tips for Hurricane Season Preparations from Triple -I include:
- Prepare an Hurricane Emergency Kit with at least two weeks delivery of essential items such as non-perishable food, drinking water and medicines for each family member .
- Create an evacuation plan long before the first storm warnings are issued.