2021 Hurricane Preparation Guide

Page 16 Plan ahead to reduce pocketbook stress after storm BY DAVID MORRIS While we can't schedule a storm-related crisis, we can plan to reduce the stress that comes with it. Knowing what's covered under your homeowner's insur- ance policy, which contractors to call if needed, as well as having important items in one safe place can make a big difference in reducing pocketbook stress. WHAT'S MY COVERAGE? If you haven't reviewed your homeowner's insurance policy recently, sit down with your agent before suffering a loss. Verify there's sufficient hazard coverage on the value of your home — especially with rising area construction costs — and its contents. Are your contents reimbursed for actual or replacement cash value? That's the difference between what a used couch would fetch at a thrift store or a new one off the showroom floor. What happens if your windows are blown out, but current building codes require they be replaced by more expensive hurricane impact-resistant ones? "Law and ordinance" coverage pays for that significant differential. If you don't have it, you pay for the upgrade. And your pool cage? After Hurricane Charley, most poli- cies began dropping it from standardized coverage, making it a purchasable option. Seawalls and boat docks, however, cannot be insured. If shopping around, make sure you're comparing policies on an apples-to-apples basis, including the hurricane deductible amount. DO YOU NEED FLOOD INSURANCE? Only water damage caused by wind blowing water in through an opening is covered by hurricane insurance. Rising water damage caused directly by flooding is specif- ically excluded. That's why it's also important to talk with your insurance agent about a separate flood insurance policy. If you have a mortgage and live in what FEMA determines is a high-risk flood zone, you're required by the lender to purchase a policy. While not required, most homeowners in moderate-to-low- risk areas are eligible for coverage at preferred rates and should consider purchasing a policy as well. Just a few inches of interior water can cause tens of thousands of dollars in damage. Statistically, those outside of mapped high-risk flood areas file nearly 25 percent of all flood insurance claims and receive one-third of federal disaster assistance for flooding. Flood policies issued by the National Flood Insurance Program — and purchasable through most insurance agents nationwide — will be the best choice for the majority of homeowners. However, depending on residency status and flood zone area, private insurance policies may offer a better alterna- tive. Those private companies also can offer excess flood insurance over and above standard NFIP limits. Don't wait. There's usually a 30-day waiting period after the premium is paid before a flood insurance policy be- comes effective. HAVE A 'GO-TO' CONTRACTORS LIST Now's the time to prepare a list of trustworthy contrac- tors, because good ones are harder to get after a storm. That means having a plumber, air conditioning contractor, electrician, door and window installer and, if appropriate, a septic contractor and a pool and spa contractor. Ideally, you already have an existing relationship with many of these contractors. Not only does it allow you to trust their work, but current customers will usually get prefer- ential treatment in an emergency. More than 300 licensed contractors — besides the key trades noted above — as well as aluminum, drywall and roofing contractors and companies that specialize in debris removal, garage doors, gutters and painting, are in the Charlotte-DeSoto Building Industry Association's directory. Go to cdbia.com or call 941-625-0804. CDBIA vets all members, including verification of appropri- ate state and/or county licensure, if it's required. It will also check licensure of non-members if requested. There is a similar association serving Sarasota County, the Manatee-Sarasota Building Industry Association at ms- bia.org and 941-907-4133 x 309. FILE PHOTO Only water damage caused by wind blowing water in through an opening is covered by hurricane insurance. Rising water damage caused directly by flooding is specifically excluded.

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