Hurricane Season is Here: Do You Have Enough Flood Insurance?
FORT LAUDERDALE, Florida. Hurricane season is upon us. While it is still early and we are not in the height of hurricane season just yet, now might be a good time to check and see that you have enough insurance, including but not limited to flood insurance, to cover you should a storm hit. Even if you have hurricane-windstorm, all perils and/or flood insurance, do you have enough coverage? According to Value Penguin, flood insurance is usually only mandated if you live in an area that is prone to flooding and if you have a mortgage. However, this coverage may be very minimal. If you live in a flood zone, you may want to purchase more than just the minimum coverage. Furthermore, if you own your house outright or don’t have a mortgage, you may not be required to have flood coverage. However, this doesn’t mean you should skip the costs. Individuals can suffer extreme damage in a flood or hurricane event.
If you have a mortgage and live in a flood zone, your lender will require you to have flood insurance. Usually the flood insurance required must be equal to your property cost or limits. However, it is recommended that you get covered for the full value of your home and possessions.
According to FEMA, homeowners and renters insurance won’t necessarily cover you in the event of flood damage. Individuals shouldn’t count on FEMA disaster assistance to supplement their damage costs. If you are worried that your house might be damaged by flooding then you should make sure to double-check that your insurance covers you for things like that. If you find out that you aren’t covered then you can click to view listing here and see what sort of insurance you get can to make sure that you are covered for this sort of thing.
The best time to act if you plan to purchase flood coverage is now. It can take up to 30 days before your flood coverage goes into effect. Hurricane season generally doesn’t heat up until late August and September so you still have time to protect your home. Again, do not just look at flood coverage; review all of your insurance, your limits, deductibles and what exclusions or caps your policies may have. It is a terrible thing to find out you are excluded or have an unreasonably low cap for certain losses. Many people do not have water damage coverage and/or have a $10,000.00 maximum coverage for water and/or mold related damage/losses and do not know until they have a significant claim that the amount of coverage they have will barely help bring the property back to its pre-loss condition because of the scope of damage incurred.
Regardless of whether you live in a high-risk area or not, there are also steps you can take to protect and secure your home. You can install check valves to prevent water backflow of water in your drain systems. Elevating your water heater (and furnace if applicable to you) can also protect these appliances from damage should your home become flooded. Finally, it is also wise to prepare a flood kit for your house with fresh water, non-perishable food, and medications. Flashlights, blankets, and a camera are also handy should a flood hit.
If you need to make a claim, make your claim as soon as possible. Prepare to meet your adjuster by gathering all evidence of hurricane or flood damage, including photographs of damage. Global Claim Advisors has experience with helping property and business owners get back on their feet after disasters by developing a claim strategy to efficiently manage their claim. If you have difficulty making a claim, know your rights. Leader & Leader, P.A. are property damage, hurricane damage and flood damage insurance claim lawyers in Fort Lauderdale, Florida who can help you file your claim and fight insurance adjusters if you feel like you are not getting the claim you may deserve under the law. Visit us at Leader & Leader, P.A. today to learn more about how we can help you if your claim has been denied or if your settlement doesn’t cover all your repairs.
Leader & Leader, P.A.
633 South Andrews Ave.
Fort Lauderdale, FL33301