Home Insurance. Thursday , March 01st , 2018 - 17:05:55 PM
Ms. Worters noted that standard homeowner policies don’t cover damage from floodwaters, even if it is caused by a hurricane’s storm surge. Homeowners must buy separate flood coverage, either through the National Flood Insurance Program or from private companies. There is often a waiting period (30 days, in the case of federal flood insurance) before flood policies take effect. Homeowners who want coverage beyond a standard flood policy can also consider extra insurance, available from excess or surplus lines insurers.
Loretta Worters, a spokeswoman for the Insurance Information Institute, a trade group, said some insurers include the dollar value of the deductible, along with the applicable percentage, to eliminate confusion. A hurricane deductible is distinct from the deductible for other sorts of damage to the home and usually goes into effect when a storm is categorized as a hurricane by the National Weather Service — or, in some cases, when a storm is named, even if doesn’t become a hurricane. (Some policies have separate windstorm deductibles that apply even for unnamed storms.)
Some systems have additional sensors to monitor for fire, smoke, and water damage, and some newer systems incorporate security cameras both inside and outside the dwelling. With the added protection offered by home security systems, many insurance companies now offer discounts on premiums on homeowners or renters insurance policies if a homeowner chooses to install a system.
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