Insurance Claims Are All We Do.
Policyholders are often faced with complicated issues after they suffer a property loss from a hurricane. These issues can arise while filing a hurricane damage claim with your insurance provider. The claim information you present is crucial to the success of your case. Let us assist you with forming a sound strategy to maximize your settlement.
Understanding The Details Of Your Property Insurance Policy
What determines sufficient insurance for the hurricane season? It is important to understand:
- Who is the insured?
- Exactly what is covered?
- What perils are insured?
- When is coverage provided? (During hurricane season, continuous coverage is advisable)
- What limitations may exist on the amount of coverage?
Tips to Avoid Underinsurance
Recovery for a loss is limited by the stated limits of the policy. Unfortunately, most properties are underinsured. To be made whole after a loss, your policy limits should reflect the value of the property. In most situations, for a complete recovery, it is advisable to purchase Replacement Cost coverage, rather than Actual Cash Value coverage.
Flood damage is specifically excluded from most policies. Flood insurance is critical for all properties in regions prone to flood and hurricane damage and is available through the National Flood Insurance Program, FEMA, or authorized private carriers. Most homeowners insurance policies separate wind from flooding, meaning you may need to acquire separate policies. This is why we recommend going over your policy to guarantee you are covered under all types of storm categories.
Beware of anti-concurrent causation clauses which prohibit recovery when a covered peril and a not-covered peril combine to cause a loss. If a covered peril (wind) combined with the not-covered peril (flood) to cause the loss, the insurer may deny all or a portion of the claim.
How Much Is Covered Under Hurricane Insurance?
It is important to clarify the distinctions between insurance policy types. For example, most home insurance policies cover wind damage. However, in a hurricane your home stands a good chance of incurring water damage from storm surge or flooding. Flood insurance is an entirely different policy.
We recommend you thoroughly understand your homeowner insurance policy in anticipation of any storm damage. This way you can identify any lapses in your coverage that could hurt your case for making a property insurance claim. Insurance companies can take advantage of these lapses in coverage and deny your claim as a result.
What To Do If Your Property Sustains Hurricane Damage
The most important step to take after your home suffers hurricane damage is file a claim with your insurance company. Be sure to take photographs of any damage to the interior or exterior of your home. You can compare these photos to any photos taken prior to the storm. If you do not have any photos of the interior or exterior of your house at this time, we recommend doing so. It will make the hurricane damage claim process easier on your end.
Another important step is to have someone come assess the property. This can either be a licensed contractor, public adjuster or a damage assessment expert. Having someone come out to accurately assess the damage or loss value of your property can help your case in many ways. Your insurance provider will likely send out a representative to examine the damage so they can determine a monetary evaluation. It is important that you do the same with representatives acting on your accord.