Just In Time for Peak Hurricane Season, Five Tips on How to Have the Right Type and Amount of Insurance Coverage

In Time for Peak Hurricane Season, Five Tips on How to Have the Right Type and Amount of Insurance Coverage

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Before peak hurricane season take the time to review your homeowners or renters insurance policy and make sure you have the right amount and type of coverage, recommends the Insurance Information Institute.

“The time to review your home or renters policy is before you have a loss,” says Jeanne M. Salvatore, senior vice president and chief communications officer at the I.I.I. “You don’t want to find out after you file a claim that you could have purchased more insurance.”

The I.I.I. offers the following five tips to properly insure your home:

1. Review Your Insurance—Before You Have a Loss!

  • Read the Declarations “Dec” (front) page of your policy, as it provides a useful summary. Review all policy documents and contact your insurance professional with any questions.  

2. Understand Which Disasters Are Covered—and Which Are Not

  • Hurricanes, windstorms and tornadoes are covered by standard homeowners and renters policies.
  • Floods and earthquakes are not covered—you must buy separate policies for these disasters. Coverage for flooding and storm surge is available from the National Flood Insurance Program and from a few private insurance companies. There is a 30-day waiting period for flood insurance to go into effect, so buy it now if you need it.
  • More information about flood insurance: Does My Homeowners Insurance Cover Flooding?

3. Have Enough Insurance

For more information on having correct coverage, and tips like these visit III.org