Home Insurance. Thursday , March 01st , 2018 - 22:03:41 PM
The Atlantic hurricane season is a little more than two weeks away, so now is a good time for homeowners along the coast to check their insurance coverage. The annual hurricane season runs for six months, from June through November. “A good place to start is your deductible,” said Amy Bach, executive director of United Policyholders, an advocacy group that works on behalf of consumers with insurance. “It’s really helpful to know what the dollar amount is.”
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.
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.