Home Insurance. Thursday , March 01st , 2018 - 11:57:16 AM
The trouble with this logic is that although many believe their insurance policy will properly cover them, in reality many will not be properly covered when disaster strikes. Take Hurricane Harvey for example. Approximately 70 percent of the flood damage from Hurricane Harvey was uninsured, according to CoreLogic, a leading source for flood and disaster risk data.
Your homeowners insurance policy might also help pay for temporary housing or living expenses if you need to live elsewhere while your home is being repaired or rebuilt. Check your policy or talk to your agent to learn about any possible coverage limits and exclusions.
Given the number of uninsured and underinsured homeowners during the 2017 natural disasters, there seems to be a disconnect between homeowners understanding their coverage and what their policy actually covers.
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