- Homeowner's insurance typically covers wind and hail damage, often with a separate hurricane deductible.
- Flood insurance is a separate policy covering damage from storm surge, heavy rain, and rising water.
- Homeowners should review their policies for coverage gaps, exclusions, and limits, especially regarding flood damage.
- Creating a home inventory and considering hurricane-impact windows and doors can help mitigate potential damage and financial loss.
Q: We’re in the middle of hurricane season and I’m not sure what my insurance policies cover. What should I be looking for?
A: Hurricane season is here, and for many of us, it comes with an unsettling question: Do I really have the right insurance coverage if a storm hits? It’s a great question because the reality is there is no single policy called “hurricane insurance." Coverage is often a combination of your homeowner’s policy and a flood policy, each with its own limits, exclusions, and costs.
Your homeowner’s insurance generally covers wind and hail damage and usually includes a special hurricane deductible. This deductible is typically a percentage of your home’s insured value, not a flat dollar amount. For example, if your home is insured for $400,000 and your hurricane deductible is 5%, you would pay $20,000 out of pocket before insurance covers the rest. So, if a hurricane causes $60,000 of damage, you pay the first $20,000 (the deductible) and your insurance covers the remaining $40,000. Keep in mind, coverage often only applies to named storms.