hurricanes in Florida should serve as a sharp reminder to homeowners
everywhere that they should review their homeowners policies
for adequate coverage. It’s best to check policies annually,
and preferably in advance of hurricane season.
If you have not read your policy in a while, Alexander
Petterson, personal insurance manager of The NIA
Group’s West Palm Beach office, suggests these tips
when reviewing your coverage:
- Make sure your current policy will cover the cost of repairs
should you need to rebuild after a storm. The cost of replacement
materials has climbed sharply over the past five years and
you may not recoup total cost under your current policy.
- If you have made recent improvements to the interior
and exterior of your home, then make sure you have adequate
coverage to cover the replacement cost of your home and
its contents, including upgrades, should they be damaged
- Standard insurance policies do not cover flooding. Flood
insurance can be purchased through an insurance agency like
The NIA Group.
- Make certain that you know what your deductible is. Homeowners
policies for properties located in coastal states typically
have a deductible that is a percentage of the value of the
dwelling. Also confirm if your deductible is applicable
to wind or a named hurricane.
- Keep important documents, such as mortgage and escrow
papers, photos or videos of your home and its contents,
insurance policies and birth certificates in a safe, hurricane-proof
place or a separate location. Easy access to these documents
can speed up the insurance claims process.
When in doubt, ask your insurance advisor to walk you through
your policy. Seek an advisor that has solid relationships
with numerous carriers and extensive experience in placing
insurance for properties located in hurricane-prone areas.
This will ensure that you get broad protection at a competitive
You can always contact The NIA Group Personal Lines
Division at (800) 226-626