Floridians Looking for Information on Homeowners and Flood Insurance Ahead of Irma
By Space Coast Daily // September 6, 2017
Here's What they Need to Know
The volume of Floridians visiting consumer research website ValuePenguin.com looking for Homeowners and Flood Insurance research has jumped 500% in the past 12 hours as panicked locals are desperately looking for information ahead of Hurricane Irma.
Unfortunately, the insurance coverage that consumers have right now is all they’ll have once Irma arrives. Purchasing a new policy or amending one will not be possible.
However, here is what they can do to prepare to file a claim after the storm passes:
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- Be Ready for the Hurricane Deductible: Homeowners who are covered for the wind damage need to be aware that “hurricane deductible” usually applies during a named hurricane event. Rather than being a flat rate of $500-$1000, Hurricane deductibles are a percentage – of between 2% to 5% typically – of the insured value their homes.
- Check for Additional Living Expenses (ALE) coverage: After the hurricane strikes, if your home is rendered unlivable, ALE coverage will cover hotel bills, meals, and other expenses. While evacuation costs are generally not covered by ALE, exceptions were made during Sandy and Katrina.
- Video your property and belongings before you leave: In addition to updating their list of insured personal belongings, consumers should use their smartphones to record a video as they walk through their homes, narrating and identifying items and offering any additional information that might be relevant to a claim, such as value or replacement cost. It’s a good idea, too, to snap still photos of items that are especially expensive or cherished.
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