It’s time to celebrate! We survived hurricane season without even a minor glimpse of a hurricane here in Beaufort and the surrounding areas.
69 hurricanes have been recorded in Beaufort, SC since 1930. The largest hurricane was Dora in 1964 and the most recent hurricane Ian in 2022 gave us quite the scare. Beaufort has been very lucky over the last decade but the outskirts of these storms and the lesser tropical storms can still cause quite a bit of damage to our coastal region. If you hold your breath every season maybe it’s time you give yourself a little piece of mind with Papay Insurance.
Different from a standard home owners insurance policy, hurricane insurance (also known as windstorm insurance or hurricane coverage) is a type of insurance policy that provides financial protection to homeowners and businesses in the event of damage or destruction caused by hurricanes and related windstorms. This coverage is particularly important for individuals and businesses located in regions prone to hurricanes- cue the Lowcountry that we all know and love.
Here are some key points to understand about hurricane insurance:
- Coverage: Hurricane insurance typically covers damage to your property, including your home or business, as well as its contents, caused by hurricane-related perils. This can include damage from strong winds, heavy rain, storm surges, and flying debris.
- Deductibles: Hurricane insurance policies often have a separate deductible specifically for hurricane-related damage. This deductible is typically higher than the standard deductible for other perils. It is usually expressed as a percentage of the insured value of the property, such as 2% or 5%.
- Exclusions: Policies may have certain exclusions, such as flood damage. Flood insurance is typically sold separately through the National Flood Insurance Program (NFIP) in the United States.
- Mitigation: Insurance companies may offer discounts or incentives for homeowners who take steps to hurricane-proof their properties, such as installing hurricane shutters, reinforcing roofs, or elevating buildings.
- Waiting Periods: Some hurricane insurance policies have waiting periods before coverage takes effect. This means you cannot purchase coverage right before a hurricane is approaching and expect immediate protection.
- Premiums: The cost of hurricane insurance premiums can vary widely depending on factors such as the location of the property, its construction type, the coverage limits, and the deductible chosen.
- Declarations Page: The specifics of your hurricane insurance coverage, including deductibles, limits, and terms, will be outlined in the policy’s declarations page. It’s essential to review this page carefully to understand your coverage. At Papay Insurance we never leave clients in the dark. We will thoroughly go over all your protection points with you.
Tis’ the season! Hurricane insurance is not retroactive, meaning you cannot purchase coverage when a hurricane is imminent or has already been forecasted. It’s important to have this coverage in place well before hurricane season begin. You must properly understand how your hurricane/wind & hail deductible works.
Need guidance? Bring us your current homeowners policy so we can review your current coverages and compare.
Give us a call today (843) 476-4805.
