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Texas Hurricane Insurance: Do You Have Enough Coverage?

Hurricane insurance is an important insurance policy for homeowners, especially for those who live in high-risk areas.

Out of all the states, Texas is second only to Florida when it comes to the highest number of hurricane landfalls. For homeowners in the state of Texas, especially for those who live along the gulf, comprehensive windstorm insurance is especially important.

While some homeowners policies offer a level of coverage for windstorm or hurricane damage, for areas that are classified as high-risk, coverage is often more limited.

When it comes to choosing a Texas hurricane insurance policy, there are a few things to keep in mind. Here are some important questions to ask, to help you to determine if you have the right amount of coverage.

Actual Cash Value or Replacement Cost?

“Actual cash value” verses “replacement cost” coverage is an important area of consideration when it comes to hurricane coverage. Most people wonder what the difference between the two coverage options is. Actual cash value will only pay what your property is worth at the time, minus depreciation. For hurricane insurance coverage, replacement cost coverage is recommended as this coverage doesn’t take into account depreciation at the time of a claim.

Is Your Deductible Too High?

The deductible is the amount which you are responsible for paying before insurance kicks in. Many customers have higher deductibles for their hurricane insurance policies, since they don’t plan on using the policy, and higher deductibles mean lower premiums. However, it’s important to remember that since the deductible is the portion that you will be responsible for paying out-of-pocket for, and choose an amount that you can afford to pay.

Do You Have Flood Insurance?

While floods commonly accompany hurricanes, water damage, or damage caused by floods are not covered in hurricane insurance policies. If you are considering a hurricane insurance policy, you should also consider adding a flood insurance policy to make sure you are covered should the need arise.

Hurricane insurance offers unique protection and coverage for your home or business. Most policies take 30 days to go into effect, so it’s important to ensure that you have adequate coverage — before it’s too late. Talk with Katy Texas Insurance, your Texas hurricane insurance specialists today, and find out how affordable a hurricane insurance policy can be.