Prior to the Hurricane Season it is important to review your homeowners insurance policy to determine if it covers hurricane losses, or if you need a separate hurricane or windstorm policy.This is a vital part of hurricane preparation that many people do not think about until it is too late.

Windstorm Coverage

If your insurance policy does cover hurricane damage, there will usually be a large deductible for such losses. The deductible may range from 2 to 5 percent of the insured value of the property. Other casualty losses not caused by hurricanes are usually covered under a relatively small deductible. In the event that your policy does not cover windstorm damage it is a good idea to invest in a separate windstorm policy that can usually offer similar coverage for competitive rates.

Flood Coverage

A flood policy is technically not an insurance policy, but rather part of a the National Flood Insurance Program (NFIP), which is managed by FEMA. The average cost for $250,000 of building insurance and $100,000 in contents coverage is around $350 per year, depending on the location of the property. This is the maximum amount that the federal government will insure through the NFIP.

Additional coverage may be available from private carriers; however, these policies tend to have much higher premiums.

Flooding can happen anywhere. While hurricanes are not the only cause of flooding it is almost a guarantee that a hurricane will cause flooding to some degree. Even if you do not live in a coastal area you should seriously consider flood insurance. More people have died over the last 40 years from inland flooding associated with hurricanes, than those who live along the coast according to the National Oceanic and Atmospheric Association (NOAA).

The strength of a storm has everything to do with the storm surge and wind damage that is sustained by coastal areas, but may not be related to the amount of rain and inland flooding that is associated with a particular storm. In fact, some the highest rainfall totals and worst flooding has been associated with smaller storms that have a greater tendency to move slowly or stall after making landfall.

Inland flooding associated with hurricanes and other tropical storms can be seen hundreds of miles from where the storm made landfall, and poses a real threat to virtually every community throughout the United States.

If you do not already have flood insurance you should consider it. This is the only way to insure that your investment is safe when mother nature attacks.