Home Insurance--and Hurricane Coverage

Closed Thread
Thread Tools
  #1  
Old 04-13-2019, 03:26 PM
Rosalie Rosalie is offline
Member
Join Date: Sep 2009
Posts: 74
Thanks: 0
Thanked 0 Times in 0 Posts
Default Home Insurance--and Hurricane Coverage

It's time to pay our annual home insurance bill and we're wondering if we really need hurricane insurance here in Central FL. Do you think it's necessary??
  #2  
Old 04-13-2019, 03:30 PM
Bjeanj Bjeanj is offline
Soaring Eagle member
Join Date: Jan 2015
Location: Santiago
Posts: 2,118
Thanks: 113
Thanked 1,465 Times in 545 Posts
Default

Homeowners insurance covers wind damage and, I think, damage done by wind-driven water. Are you thinking about flood insurance?
__________________
Teach your daughter how to shoot, because a restraining order is just a piece of paper.
  #3  
Old 04-13-2019, 03:46 PM
Nucky's Avatar
Nucky Nucky is offline
Sage
Join Date: Apr 2015
Posts: 11,094
Thanks: 4,377
Thanked 3,625 Times in 1,884 Posts
Default

When Irma was 24 hours away from us I was certainly glad we were heavily insured. It’s nice to sleep peacefully. I’m insurance broke. I think it’s a personal decision but I would say go for the best you can afford.
  #4  
Old 04-13-2019, 03:50 PM
retiredguy123 retiredguy123 is offline
Sage
Join Date: Feb 2016
Posts: 13,953
Thanks: 2,275
Thanked 13,419 Times in 5,109 Posts
Default

Hurricane insurance is not actually a separate insurance policy. Your homeowners policy will cover you for wind and rain damage, including hurricanes. But, if the event is classified as a hurricane, your deductible may be higher than if it is not a hurricane. You need to check the hurricane deductible on your policy, and, if you want to pay extra, you can reduce it to various amounts by increasing your premium.
  #5  
Old 04-13-2019, 04:57 PM
Rosalie Rosalie is offline
Member
Join Date: Sep 2009
Posts: 74
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Thank you very much. I appreciate your help.
  #6  
Old 04-13-2019, 05:08 PM
rjm1cc's Avatar
rjm1cc rjm1cc is offline
Soaring Eagle member
Join Date: Apr 2010
Posts: 2,366
Thanks: 237
Thanked 521 Times in 241 Posts
Default

I have a separate charge for Huricane coverage. It is a substantial part of the total cost. I think it is less likely for us to have major problems but if you have trees near by that could fall on your home you do have a risk. Also flying furniture or other objects could be a problem. Ask you broker if you are covered for these items without the huricane ridder. If you do not have any trees on your property I could see going without the insurance but for me I want to play it a little safer so I have the insurance.
  #7  
Old 04-13-2019, 09:43 PM
EdFNJ EdFNJ is offline
Sage
Join Date: Nov 2016
Posts: 4,383
Thanks: 1,375
Thanked 3,094 Times in 1,336 Posts
Default

I thought I read that hurricane coverage is automatic and required here in FL on any HO policy..
  #8  
Old 04-14-2019, 11:02 AM
valuemkt valuemkt is offline
Veteran member
Join Date: Oct 2007
Location: The Villages - Formerly Atlanta Endicott and Syracuse NY
Posts: 692
Thanks: 49
Thanked 661 Times in 214 Posts
Default

If you don;t make sure you have "ALL PERILS" type insurance, you might as well just skip the whole insurance thing all together. It's like getting coverage on breaking your right arm, but not your left. Groundwater damage is extremely tricky, which is where Flood insurance comes in.. Most people think of storm surges and rivers overflowing .. But a good heavy rain could easily raise our fragile water table and cause a tremendous amount of damage that is not covered by a normal homeowners insurance policy. It all depends what your requirements are to sleep well at night (SWAN). The old saying of penny wise and pound foolish comes to mind.
  #9  
Old 04-14-2019, 11:42 AM
thetruth thetruth is offline
Senior Member
Join Date: Mar 2018
Posts: 411
Thanks: 0
Thanked 1 Time in 1 Post
Default Hurricane insurance

Quote:
Originally Posted by Rosalie View Post
It's time to pay our annual home insurance bill and we're wondering if we really need hurricane insurance here in Central FL. Do you think it's necessary??
Any insurance is a betting game. Other than required by law such as auto insurance, you decide if it worth the cost. The insurance company decides what the cost is. You can and should research what other companies are charging for the same or similar coverage.

We are ex Long Islanders. Hurricane Sandy tore through. People who paid sweetly to be on the water woke up with large boats through their homes. Imagine waking up to find a 50 foot boat through your home.

Far a hurricane coverage, there was a far higher deductible on hurricane damage than on normal damage. HUH, our government decided that Sandy was not a hurricane so the high deductible for hurricane coverage did not apply-HUH. Other than some plant damage, which we did not claim as it was likely less than our deductible, the insurance company decided they would not insure any homes south of a given road-that included us. They would not renew our policy when it came to it's end and we needed to find another company.

As said above it is a bet. Do you think it is worth $$$$$ to have a company commit to the risk or do you want to self insure-if there is a loss the money comes out of your income or your savings.

Last edited by thetruth; 04-14-2019 at 11:45 AM. Reason: addition
Closed Thread

Tags
insurance, home, hurricane, central, time

Thread Tools

You are viewing a new design of the TOTV site. Click here to revert to the old version.

All times are GMT -5. The time now is 09:05 PM.