Hurricane Insurance Policies
Hurricane insurance is designed to protect the homeowner from any losses resulting from any damage occurring during a hurricane. It differs from flood insurance in that wind damage is covered as a part of the policy. Residents in areas prone to hurricanes benefit from having this coverage.
Who Is It For?
Homeowners who have been involved in a hurricane know firsthand the extent of the damage that can be done. A hurricane policy provides people with property protection if a tragic storm occurs. A hurricane protection plan goes beyond the basic coverage provided for in a simple homeowner insurance policy.
How It Works
People can expect to pay a portion of the home’s insured value while the policy covers the rest of the damage. The out-of-pocket costs incurred lie in the deductible. The coverage is applied to wind damage resulting from any storm recognized as a hurricane.
Different Types Of Coverage In Existence
Most homeowner insurance plans cover storm damage from a hurricane to an extent. Many only limit coverage to wind, rain or flooding. In getting a hurricane policy, the water and wind causes of damage are conveniently bundled into one policy. The policy is used to offset hurricane damage costs for homes hard hit by a recent storm. Homeowner policies offer limited coverage while hurricane protection handles every aspect of the hurricane storm event.
Many policies fall short in covering one aspect of damage resulting from a hurricane. The homeowner policy may not cover either wind or flood-related damage. Having a hurricane policy gives comprehensive coverage for a home damaged in a storm.
Hurricane coverage protects in cases of direct loss to a physical structure if a hurricane occurs. The hurricane plan bundles several different types of protection together into one convenient bundle. Hurricane insurance covers the often neglected wind component of a typical homeowner policy. If a homeowner lives in a certain area, the lender may actually require a specific hurricane coverage policy.
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