Understanding Hurricane Insurance: What You Need to Know

When hurricanes hit, they can cause a lot of damage to your home, car, boat, and even your travel plans. Knowing what type of insurance to have can save you a lot of stress and money. Here’s a simple guide to help you understand the different types of hurricane insurance.

Hurricane Homeowners Insurance

What it is: Most homeowners insurance covers wind damage. However, to be fully protected, you’ll also need flood insurance. By combining these two, you get comprehensive hurricane coverage for your home.

When to buy: Don’t wait until a storm is near! In many states, you can’t get a new policy for flood damage once a storm watch is issued or within 48 hours of a storm. Check your coverage as soon as possible.

How much it costs: Costs vary depending on where you live. For average home insurance costs, check Insurance.com. For flood insurance, QuoteWizard is a good resource. Surprisingly, some of the most storm-prone states like Florida, Maryland, and Texas have the cheapest flood insurance. Florida’s average is around $550 per year.

Hurricane Auto Insurance

What it is: There’s no specific “hurricane insurance” for cars, but comprehensive auto insurance covers hurricane damage, theft, vandalism, and other extreme weather events.

When to buy: You need to have comprehensive auto insurance in place well before a storm warning, usually at least 48 hours prior.

How much it costs: Costs depend on where you live and the value of your car. Comprehensive plans generally cost a few hundred dollars more per year, but it’s worth it to avoid hefty repair bills after a hurricane.

Hurricane Travel Insurance

What it is: When you book a vacation or cruise, you can buy hurricane travel insurance. This covers cancellations or changes caused by hurricanes. If a hurricane disrupts your travel, you could get reimbursed for your flight, hotel, and other expenses. Remember, this only applies to disruptions that actually happen, not just potential ones.

When to buy: Get this insurance at least 24 hours before a storm warning or the naming of a hurricane. If you think a storm might affect your trip, buy this insurance when you book your travel.

How much it costs: Travel insurance usually costs between 4-8% of your total trip cost.

Hurricane Boat Insurance

What it is: Many boat insurance policies cover wind and flood damage. However, in hurricane-prone areas, coverage might be limited. Check your policy to see what’s included. Some policies also reimburse you for towing your boat to safety before a storm or for strapping it down and relaunching it afterward.

When to buy: Most policies require you to have coverage at least 30 days before a storm to be eligible for reimbursement. This prevents last-minute purchases just before a hurricane.

How much it costs: Costs vary based on your location and the size and value of your boat. Annual premiums can range from under $200 to over $1,000. For example, Florida’s average was $495 per year in 2017, while Wisconsin’s was $188.

Contact a Hurricane Insurance Claim Lawyer

If your insurance company denies, delays, or underpays your hurricane damage claim — whether for your home, car, trip, or boat — speak with an attorney. Having a hurricane claim lawyer can make a big difference in getting the money you need to recover.

Morgan & Morgan has experienced attorneys ready to take on Big Insurance and win. Over the past 35 years, we’ve recovered more than $25 billion for our clients. Best of all, it costs nothing upfront to hire us; we only get paid if you win.

To see how we can help you, fill out a case review form for a free, no-obligation evaluation.