Frequently asked questions during hurricane season:

  • 0

Frequently asked questions during hurricane season:

1. Am I covered for flood?

Flood insurance is separate from your homeowner’s policy. We can quote flood coverage but FEMA requires a 30 day wait between when you take out the policy and when coverage begins. Also in order for the flood policy to provide coverage the following conditions must apply:

    • A general and temporary condition of partial or complete inundation of 2 or more acres of normally dry land area or of 2 or more properties (at least 1 of which is the policyholder’s property) from:
      –Overflow of inland or tidal waters; or
      –Unusual and rapid accumulation or runoff of surface waters from any source; or
      –Mudflow; or
    • Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above.

2. What is a moratorium and why can’t I change or add coverage to my policy?

An insurance moratorium or binding prohibition simply means an insurance company places a temporary halt on writing new business or raising limits on existing policies for a period of time. This is common with an impending storm.

3. What type of water damage will my homeowners cover?

One example would be water back up and sump pump overflow, but only when the endorsement has been applied to your policy. This endorsement provides coverage when water backs up through or overflows from a sewer, drain, sump, sump pump or any system on the residence premises designated to remove subsurface water from the foundation area. This is a common claim after heavy rainfall.

4. What’s my responsibility if my home has sustained damaged?

Report your claim right away. Make emergency repairs to prevent further damage to your property, but only if you or someone you know is able to do so safely.

5. Do I have a separate deductible for a loss from a Hurricane?

Not necessarily. Some of our costal clients and those who live near major bodies of water may have a separate wind/hail deductible, but for the vast majority of our clients, you typically would have one deductible on your policy and it’s the same for all perils.

These are some of the common questions we’ve encountered with the impending storm, but please do not hesitate to call (804) 320-0129 or email myagent@kmicoverage.com, with any questions or concerns.


Leave a Reply

Request Quote