How Named Storms Affect Your Insurance Coverage
When a hurricane is on the way, you have to act fast.
While you’re making an evacuation plan or stocking up on bottled water, the last thing you want to be thinking is, “Will my insurance cover what happens after this?”
Yes, hurricanes can be devastating – personally and financially. But anxiety can keep you from being present to what matters most. We want you to feel confident that your insurance can go the distance when disaster strikes.
For coverage questions about your specific policy, contact your local insurance agent.
Hurricanes and Insurance: 4 Frequently Asked Coverage Questions
A hurricane is on the way. Can I buy a new policy or make a last-minute change?
Typically, a hurricane watch is called about 48 hours ahead of tropical storm-force winds, according to the National Hurricane Center. Once that happens, it’s unlikely you’ll be able to get a new policy or make a policy change at the last minute.
It varies by state, but in most places, state regulations prohibit anyone from purchasing insurance coverage (or changing their current coverage) once an official hurricane watch or warning is called.
Flood insurance, which is purchased as a separate policy, has a mandatory 30-day waiting period before it goes into effect. That’s because flood insurance is federally regulated through the Federal Emergency Management Agency’s National Flood Insurance Program.
Does my homeowners’ insurance cover damage from hurricanes?
Always check your specific policy (or check with your Agent) to know what it does and doesn’t include. The big thing to remember is that coverage for flood and water is typically purchased separately.
Wind damage: Generally speaking, wind damage – including wind from hurricanes – is already included under the dwelling and other structures section of your homeowners policy, since it’s considered a covered peril.
Water damage: Damage from flooding or water is excluded in most standard homeowners policies. Coverage for water-related damage, like flooding or storm surges, has to be purchased separately – and there’s a 30-day waiting period before your policy will go into effect.
Does my auto insurance cover damages from hurricanes?
In most cases, your auto policy can cover hurricane-related damages to your vehicle if you have collision and comprehensive coverage.
Collision coverage can protect your vehicle (minus your deductible and up to market value) in the event of a collision with another vehicle or an object such as a barrier (Road conditions can be extremely dangerous before, during, and after a hurricane. For your own safety, please avoid driving unless it’s an emergency.)
Comprehensive coverage covers your vehicle (minus your deductible and up to market value) in the event of an accident that is not related to a collision – for example, if your car gets flooded or the wind snaps a tree limb that falls on your car. Comprehensive coverage is optional, so if you live in a hurricane-prone area, you might want to consider adding it to your auto policy.
What’s a named storm deductible? And does ERIE have one?
The deductible is the out-of-pocket amount you pay to your insurance company after a covered loss. If you live in a hurricane-prone area, some insurance carriers have deductibles that only apply to damages from natural disasters – for example, named storms or windstorms.
Many named storm deductibles are set up as a percentage of a home’s value – usually from 1 to 10 percent – instead of a fixed dollar amount. That means a homeowner with a home insured for $161,100 would shell out $16,100 if their named storm deductible was 10 percent. If you’re not financially prepared, it can be a big sticker shock. Some insurance companies make the percentage deductible mandatory for homes in high-risk coastal areas.
Other named storm deductibles may be set on an actual dollar amount. Sometimes, named storm deductibles are optional, and we let you choose an actual dollar amount for your named storm deductible – from 0 to $10,000 – based on your budget and how much risk you’re willing to retain.
We’re Here When You Need Us
When you’re with our agency, our policy is a promise to do the right thing. If a hurricane hits and you must file a claim, know that we’re here for you from the first question to the final follow-up.
We value your time, energy, schedule, and commitments. That’s why we do everything possible to make our claims process convenient and fast. Learn more about how to file a claim by contacting one of our local agents today.
Stay safe this hurricane season. Our local ERIE Agents are here to help answer your questions and help you feel confident about your coverage.
ERIE® insurance products and services are provided by one or more of the following insurers: Erie Insurance Exchange, Erie Insurance Company, Erie Insurance Property & Casualty Company, Flagship City Insurance Company and Erie Family Life Insurance Company (home offices: Erie, Pennsylvania) or Erie Insurance Company of New York (home office: Rochester, New York). The companies within the Erie Insurance Group are not licensed to operate in all states. Refer to the company licensure and states of operation information.
The insurance products and rates, if applicable, described in this blog are in effect as of January 2024 and may be changed at any time.
Insurance products are subject to terms, conditions and exclusions not described in this blog. The policy contains the specific details of the coverages, terms, conditions and exclusions.
The insurance products and services described in this blog are not offered in all states. ERIE life insurance and annuity products are not available in New York. ERIE Medicare supplement products are not available in the District of Columbia or New York. ERIE long term care products are not available in the District of Columbia and New York.
Eligibility will be determined at the time of application based upon applicable underwriting guidelines and rules in effect at that time.
Your ERIE agent can offer you practical guidance and answer questions you may have before you buy.
