Before the Storm
There are many steps you can take in the days before a storm that could lessen the damage to your property.
Review your policy.
Not having enough coverage can be just as traumatic as experiencing damage to your home and personal belongings. Take a few minutes to review your policy to make sure you have enough coverage. Speak with your agent about hurricane deductibles and any other questions you might have.
Choose the right hurricane deductible.
Always make sure you have the funds set aside to cover the deductible you have chosen on your policy. If your home is damaged and you are unable to pay the deductible, it will prolong the recovery process. Companies offer different deductible options. It’s important that you carefully consider the right option for you.
Review your personal property coverage.
Over time, we buy, sell, and replace items in our homes. Have you looked at your personal property coverage (Coverage C) on your policy lately? You'll want to have enough coverage to repair or replace your personal property in case of damage to your home and belongings. Optional replacement cost coverage for your personal property allows you to replace or repair items that were damaged or destroyed based on current market prices. Without this coverage, your items will be valued at actual cash value (ACV), which is generally less than the cost of a new item. ACV is more like the price you would see at a garage sale. We recommend purchasing replacement cost coverage for your belongings.
Review replacement cost.
Make sure your home has the right coverage to replace/repair your home. This is shown as Coverage A on the Declarations page of your homeowner’s policy. Will the amount on your policy cover the cost to completely rebuild your home? Please keep in mind that this is not the same amount as the value of your home in the real estate market. It is the actual cost, including labor and materials, to rebuild.
