Hurricane season has arrived!
Understanding your policy
Coverage A [Dwelling coverage]: Cov. A provides coverage to the dwelling/ structure itself. Your house and connected structures, such as an attached garage, are typically protected by dwelling coverage.
Coverage B [Other Structure coverage]: Cov. B covers the other structures on the property that are not permanently attached to the primary structure/ dwelling. Such as a shed, detached garage, boat dock, gazebo, fence, driveway, etc..
Coverage C [Personal Property]: Cov. C will protect the insured personal contest in the dwelling and other structures. Some examples are furniture, clothing, jewelry, electronic, appliances, etc..
Coverage D [Loss of Use]: Cov. D will provide the insured with proper shelter and homing arrangement during the time of a loss in the dwelling. It can help pay for the additional costs you might incur for reasonable housing and living expenses if a covered event makes your house temporarily uninhabitable while it’s being repaired or rebuilt.
Coverage E [Personal Liability]: Personal Liability Coverage provisions provide coverage if a claim is made or a suit is brought against an insured because of bodily injury or property damage arising from a covered occurrence.
Coverage F [Medical Payments]: Medical payments coverage can help to pay for expenses related to an injury that occurs on your property — whether you’ve been found liable or not. The component of your homeowners insurance policy which will help pay towards injuries sustained by someone who is not the insured, or a regular resident of the property.
Hurricane/ Wind & Hail Deductible: Most homeowners’ insurance policies contain specific provisions related to damage caused by hurricanes, and a key feature is often higher deductibles for losses resulting from a hurricane. Under this provision, homeowners are responsible for paying a percentage of the insured value of the home, generally ranging from 2-10 percent. So for a home insured for $100,000 with a 2-percent hurricane deductible, the policyholder would be responsible to pay out of pocket for the first $2,000 in damages.
All Other Perils (AOP) Deductible: The All Other Peril, or AOP, deductible is usually a flat dollar amount. The AOP deductible applies to covered damages to your property such as lightning, fire, hail, vandalism, and theft to name a few. This deductible applies per occurrence. Let’s say you have a theft claim in March, a hail claim in July, and a lightning claim in August. Each of these claims will be subject to the full amount of the deductible that’s been set.
Ordinance & Law coverage: Ordinance or law insurance covers the cost to rebuild a home that has been destroyed, as well as the cost to upgrade a home so that it meets the most up-to-date building codes after a covered loss.
Water Back-up & Sump Overflow: The Water Backup and Sump Overflow endorsement is an add-on to your homeowners insurance because usually this type of coverage is excluded without this add-on. This endorsement provides coverage for damage resulting from water which backs up through sewers or drains or which overflows from a sump, french drain or sump pump, even if the sump pump fails. Coverage includes damage to covered property but excludes coverage for the sump pump.
Limited Mold & Fungi: The amount of property insurance available for loss to your property caused by “fungi”, wet or dry rot, or bacteria is reduced. Coverage is only provided for loss caused by “fungi”, wet or dry rot, or bacteria if such “fungi”, wet or dry rot, or bacteria is the result of a covered peril. “Fungi” are defined in the endorsement and include mold.
Before a Storm
What are the necessary steps are precautions your should be taking for your homeowners policy while a storm is approaching?
- Keep a copy of your homeowners policy & carriers claim phone number near by in case a claim arrises.
- Take videos of your property — inside and out — to document its condition
- Take detailed pictures and videos of anything valuable
- Keep receipts and invoices of valuable items
- Maintain an updated contents inventory list
Click the link to get your 2022 hurricane preparedness guide
http://myfloridalegal.com/webfiles.nsf/WF/GPEY-CEQLX7/$file/2022+Hurricane+Preparedness+Guide+FINAL+English.pdf
After a storm
- Prevent further damage to your home after the storm. This is your responsibility as a policyholder.
- For example, if your roof is blown off, it should be covered with a tarp to prevent further water damage.
- Make any repairs necessary to prevent further damage.
- For example, if your home is flooded, hire a licensed and bonded contractor to pump out the water. Just make sure to save the invoice!
- Take pictures and videos of all damages to your property.
- Do this as soon as possible to document the state of your home and valuables.
- Call your carrier and notify them of any damages to the property and begin the claim process.
The Process of a Hurricane Claim
- Alert your insurance company
- Document the damage
- Make any necessary repairs to prevent further damage
- Start a claim log
- Meet with your insurance adjuster(s)
- Get repair estimates
- Collect your claim payments and make repairs