Lisa Terrasi, Commercial Account Associate, explains what you need to be prepared for this hurricane season.
First off, review your insurance. Though most property insurance policies provide coverage for wind, some carriers may exclude it if the property is considered coastal. In addition, some policies may have a separate wind deductible in the form of a percentage, which is generally a lot higher than the normal property deductible. You may be able to reduce the wind deducible for an additional premium. Flood is normally excluded from every homeowner’s policy, but community associations can typically have it included in their property policy as long as they are not in what’s considered a high risk flood zone by FEMA. If they are, then a policy must be obtained through FEMA. The time to review is now, not when there is a hurricane watch, as there are generally waiting periods before coverage can be taken out or added.
Secondly, take photos of your property, inventory, roof and all building renovations, to determine the condition of the structure prior to any claim being submitted. You may need to board up windows and remove or tie down any exterior equipment. Put all irreplaceable documents in a dry, safe place such as a safe.
Have a survival kit ready. For a list of recommended items as per FEMA, click here.
