Review These Four Insurance Coverages Before Seasonal Storms Begin

Preparing for Seasonal Storms

Hurricane season is here for coastal parts of the country. And while non-coastal areas may not directly be affected by hurricanes, everyone is susceptible to detrimental weather events, such as tornadoes, hail, severe thunderstorms and flooding. With the onset of seasonal storms, safeguarding your assets through appropriate insurance coverage is crucial. Storm-related damage can be unexpected, and having sufficient protection can make a significant difference when disaster strikes. Here are four insurance coverages to consider:

1. Home or Apartment

Storms cause immense damage to homes and personal property year after year. When you review your home or renters insurance, the first step is to evaluate your coverage limits, or the maximum dollar amount the insurance company will pay for losses. While there are several limits to consider, here are some main ones to start your evaluation with an insurance advisor:

The limit on your home should match the entire cost to rebuild. Similarly, your personal property limit should be enough to replace all personal belongings within the residence. The loss of use component on your home or renters policy is the limit for alternate living arrangements if your home or apartment becomes uninhabitable.

You should also confirm your policy includes replacement cost coverage, ensuring the value of your home and belongings will not be depreciated based on age and condition. Evaluating these critical coverage limits prepares you for the uncertainties seasonal storms may bring.

2. Flood

Thunderstorms, hurricanes and tropical storms bring massive amounts of rain and a strong likelihood of flooding. Coverage for loss or damage to your home or belongings due to flooding is excluded from almost all home insurance policies. Flood insurance provides separate coverage if your home or belongings are damaged due to rising water.

Every home has the potential to flood and is therefore in a flood zone. Your location determines if you are in a high, moderate, or low-risk flood zone. Even if you are not in a high-risk zone, moderate to low-risk zones still account for over a third of the disaster assistance for flooding.

3. Wind and Hail

Wind and hail coverage is another area to review, as hurricanes and tornadoes make their way into the forecast. Wind and hail can be included or excluded from your policy depending on your location. If you have separate wind and hail policies, check coverage limits, deductibles and replacement costs, akin to standard home insurance. High-speed winds can damage roofs and siding, causing leaks and interior damage, leading to costly repairs.

4. Auto and Recreational Vehicles

As seasonal storms approach, consider how unpredictable weather can affect your vehicles. Ensuring comprehensive coverage in auto and recreational vehicle policies is crucial to protect against rain, wind, hail, or flood damage. These natural elements can significantly impact vehicles, leading to costly repairs or total loss. Review your deductible, ensuring it aligns with your financial comfort level for repairs after damage or loss.

Entering storm season necessitates securing coverage before threats arise. Once a storm is named, obtaining or adjusting policies may be impossible. Review your coverage now for assured protection when storms arrive.

Learn more about Stewart Insurance options here.

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