While Hurricane Florence has weakened into a tropical storm and is no longer as damaging as it could have been, the Carolinas and the coastal parts of Maryland and Delaware can attest to how dangerous constant rainfall and rising waters can be to homes, business, and motorists. That leaves one question: How do intense storms affect insurance coverage? Let’s find out.
Starting New Policies
It’s difficult to start a new policy right before a hurricane hits, unless you take proactive measures to plan for hurricanes that will come up the coast a few months from now. Once hurricane warnings and watches are announced, most states forbid changing or update insurance coverage to account for the storm’s impending arrival.
In the event of an approaching hurricane, you’ll also have to purchase flood insurance. This type of insurance coverage is separate from the coverage you’d already get from a typical home insurance policy. And as soon as you buy flood insurance, you will have to wait about a month (30 days) for it to take effect.
Your current homeowners insurance policy likely doesn’t cover the damage caused by a hurricane. However, wind damage is covered. Either way, be sure to consult your written policy or ask your insurance agent any questions you may have before the next disaster hits home. Any water damage that occurs will fall under flood insurance, so that’s the coverage you will need to update as soon as possible.
Your auto insurance policy should already have provisions for what happens if your vehicle gets flooded. Collision coverage helps you pay for repairs if you are driving or if the car is moving when something happens to it – whether you hit another driver, or a guardrail or light pole. If your car ends up getting flipped over, then collision coverage can help in that regard too. In any case, roads become even more dangerous right before hurricanes arrive and right after they have passed by. In these circumstances, it’s a better idea to stay off the roads entirely.
The deductible is how much you need to pay after your insurance coverage has been applied. What your deductible is will depend on where you live, how valuable your home is, and how you can pay based on your available budget.
Get in Touch with Wachter Insurance
Whether you need homeowners’ insurance or auto insurance, our team at Wachter Insurance Agency, Inc. is here to help. We offer our clients competitive rates, professional customer service, and a wide range of policies to choose from for your needs. We have been serving Maryland, West Virginia, Virginia, Pennsylvania, and the District of Columbia since 1969 and we would love to help keep your home and family safe every day of the year. For more information, call us at (301) 371-6335 or visit us online. For more blogs like these, follow us on Facebook, Google+, Twitter, and Pinterest.