When severe weather, such as hurricanes, earthquakes, and floods, are approaching landfall, insurance companies take action and this can sometimes interfere with our plans.
Did you know?
- With the threat of flooding, no property flood insurance policy can be purchased immediately for either your house or your stuff inside your house.
- Flood insurance policies have a 30-day waiting period.
- You can purchase flood insurance protection for your house and your stuff inside your house.
- Everywhere has the potential to flood, even if you are not in a “flood zone.”
- If your home is located within a flood zone, it has a higher potential to flood during heavy rains, and can cost more than a house not located within a flood zone.
- New Property Insurance Coverage. With the threat of severe weather, such as an approaching hurricane, most insurance companies suspend an insurance agent’s ability to bind insurance protection on any physical property you own until the storms have passed and the suspension rescinded. This means most companies will not be able to provide any new coverage for damage caused to your house, your car, your boat, your motorcycle, etc. If you already have insurance on your home, car, boat, motorcycle, etc, this does not relate to you.
- Insurance companies are able to provide liability coverage only during severe weather warnings, but can add physical damage coverage after the weather has passed with a signed statement of no damage.
Severe weather can be quite inconvenient when purchasing a new home or new car, or wanting to get coverage on owned property. Not sure what kind of coverage you have on your home, car or business? Contact your agent for a review of your policies. Do not wait until a storm has been named and is on its way towards your home.