The USA Atlantic coast hurricane season lasts from June through November, with the likelihood of storms peaking from August to October. The USA East Coast and Gulf Coast are most at risk, though damage from wind and rain can extend well inland.

Make sure you read your insurance policy carefully to learn what it does and does not cover, and contact your local agent with questions or to discuss your insurance needs. This is really important.

We are trying to develop a new type of Hurricane insurance - one that pays out and covers all risks. Is this of interest? We need your help in understanding what cover you want and by replying to the email it would be a great start for us.

Hurricane Irma image

HURRICANE DAMAGE

For example, private homeowners insurance policies typically do not cover flood damage. That exclusion also pertains to flooding brought on by or as a result of a hurricane. You may be able to purchase a separate flood insurance policy through the National Flood Insurance Program to help cover such damage.

However, if a hurricane's wind damages your roof, and rain gets in as a result, you may find that homeowners insurance offers some protection if your policy includes coverage for wind.

If your policy does offer coverage for wind damage, you may find that it includes a separate hurricane deductible that is higher than your standard deductible. This deductible means that you have to make a claim higher than the ductible. Would you be interested in a policy with no Deductible?

Even homeowners policies that don’t exclude hurricanes will typically exclude damage from floods caused by rising water. Rising water can result from ground-water surge, tidal surge, or overflowing lakes and rivers. Flood insurance is available to most homeowners through the National Flood Insurance Program.

Remember this from last years coverage of Hurricane Florence?

Homeowners at the greatest risk from high winds should check with their state insurance commissioner to help determine what additional coverage is needed. States threatened by hurricanes usually operate high-risk insurance pools that offer hurricane coverage, check with your local insurance agent.

The questions we want answers to are:

  1. Would you buy Hurricane cover that included ALL losses including flood damage, evacuation costs, loss of income, wind damage - all with NO deductible - Yes Or No

  2. Which cover from the following is most important? A. Flood damage B. Evacuation expenses C. Wind damage D. Loss of income E. Other..........

  3. It is proposed to set limits from $5,000 up to $5,000,000, with no deductible, what limit would you buy for the most important cover? $....

  4. Did you buy hurricane insurance in 2018? Yes Or No

Please respond to the email or reply to hello@microinsurance.com

Posted in Blog, MicroInsurance blog on Feb 12, 2019