Can you believe it has been almost 20 years since Hurricane Hugo? Although Charleston has not been hit directly since then, we are all affected by hurricanes no matter where they hit in the U.S.  Ever since Hurricane Andrew in 1992 Insurance companies have been taking a scientific approach to dealing with hurricane risk. After Katrina, many insurance companies doubled their efforts to protect against the growing risk of future hurricane losses and began to slow down the amount of business (risk) they take along coastal states as well as raised rates. But, there are a few things you can do to lower your rate and precautions you can take to weather the storm.

In addition to what we have written in this article, check out the article from last year at www.insuranceofcharleston.com/news/?cat=6

KNOW YOUR INSURANCE POLICY-

The best advice prior to a storm approaching is to know exactly what your policy covers and does not cover.  For instance, storm surge, a rise of tidal waters due to a low pressure system, is NOT covered under your homeowners insurance policy. Only FLOOD insurance covers storm surge. FEMA regulates flood insurance, but is available at the same price at most insurance agencies.

Check your deductible and know what you will have to pay out of pocket after the storm occurs. Many deductibles are now a percentage of your total insured value of your home. For instance, a $100,000 may have a 5% windstorm deductible which means you will have $5,000 deductible. This special windstorm deductible is different than your regular deductible which could be $500 or $1,000.  Know in advance what your deductible is and make sure that money is tucked away in savings for when you need to use it.

Be sure you are getting all of your discounts. Many insurance companies will offer discounts to you for having hurricane shutters and upgraded building code specs.  Be sure you know what your company offers in ways of discounts and see if you qualify or if the expense of adding shutters etc would be worth the savings.

Talk to your agent. Call your agent and spend some quality time to review your policy. You need to know exactly what your policy covers and make changes to it as you make changes to your home.  Have you added an addition? remodeled a room? Bought new jewelry, antiques or other valuables? If you have, you need to make sure your agent updates the policy to make sure you are covered.

Condo Owner need to review the regime policy for their condo association. Check the regime policy and know if you are responsible for all interior walls or just the wall paper inward.  Having a copy of the regime policy to show your insurance agent is a good idea so he/she can help you evaluate what you need to buy coverage for and what you do not need to spend money on. Also ask the condo association what happens in the event your condo is not livable after a hurricane.  Be sure to have “loss of use” coverage on your policy. This coverage may vary from company to company in name and in coverage, but if your condo is not livable, the insurance company will offer living expenses for renting another condo/apartment/home. Typically “loss of use” has a time and coverage limit. (see a previous article on condo insurance at www.insuranceofcharleston.com/news/?cat=9 )

OTHER TIPS for Hurricane Season-

Take a hard copy of your insurance policy with you when you evacuate. Be sure you have the companies claims hotline to call immediately upon your assessment of the damages.

Take all other important family documents with you when you evacuate.

Inventory your contents- (see article www.insuranceofcharleston.com/news/?cat=6 ) Be sure you have a list of all valuables/contents whether it is written or documented on video.

When you prepare your home for a storm take all patio furniture and grills off of your porch or deck and store inside. (These items can cause a great deal of damage when strong winds move them.) Move all furniture away from windows where water may be blown in. Place towels at door ways or windows to absorb any rain water that may be blown in or seep under a doorway. Unplug all electronic equipment and get them off of the floor level. Garage doors withstand wind better when braced with horizontal bracing such as a 2×4.  Secure all shutters and or plywood over windows. IF you use plywood it should be at least 5/8 inch thick and cover the entire opening of the window or door.  Have an emergency kit, food and clean drinking water for your family.  If you are ordered to evacuate, please take your family to safety immediately.

IF you have any questions about hurricane insurance, please call our agency at 843-881-2886 or send us a contact and ask your question.  Regardless of who you are insured with, please contact your agent and review your policy NOW not later!

Be safe and be prepared!

Philip Bradley

Philip L. Bradley is CEO of The East Cooper Ins Agency in Charleston, SC. He is licensed in property and casualty, life and health insurance in the state of SC. He is also a personal financial representative. For more information, please contact him at Philip@insuranceofcharleston.com or 843-881-2886.

Please consult your insurance professional and or an attorney before making any major decisions regarding insurance or financial decisions.

Below is a great article we recently read regarding hurricane preparedness. As many times as you have gone through “the drill” of getting prepared or have read your share of articles on the subject, you cannot think about this too much. It requires action from you now, not after a hurricane is on the way. So, take a few minutes and read, yet another article, and hopefully, you will learn something new. Protecting your family starts now! For more information on this subject and others, go to WWW.FEMA.GOV

Hurricane Season Begins - Get Serious, Be Prepared

Release Date: June 1, 2008
Release Number: HQ-08-093

WASHINGTON, D.C. — Hurricane Season 2008 begins today, and the U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA) wants residents living in hurricane prone areas to get serious and be prepared now. The agency cited the National Oceanic and Atmospheric Administration’s May 22 prediction that projected climate conditions point to a near normal or above normal hurricane season in the Atlantic Basin this year. The first named storm of the season, Tropical Storm Arthur, developed late Friday and moved slowly across the Yucatan this weekend and FEMA is reminding people that preparing for hurricanes is a shared responsibility.

“Individuals also must prepare themselves for a hurricane,” said FEMA Administrator David Paulison. “Americans in hurricane-prone states must get serious and be prepared. Government - even with the federal, tribal, state and local governments working perfectly in sync - is not the entire answer. Everyone is part of the emergency management process.”

“We must continue to develop a culture of preparedness in America in which every American takes personal responsibility for his or her own emergency preparedness.”

Prepare a disaster kit for your home: Stock up on non-perishable food and water to sustain you and your family for up to 72 hours or longer. Ensure you have important papers (e.g. insurance, identification), first aid kit, a supply of prescription medicines and other specialty items in your preparedness kit. In addition, plan to have an emergency kit for your car in case you need to evacuate. While creating a disaster kit, pet owners should remember to pack the necessary items for their pets.

You can find more information on preparing your disaster kit at: www.ready.gov

Create an emergency plan: Know what to do if you have to evacuate. Make sure you know how to contact members of your family and have an emergency contact number for someone out of state who knows where you are in the event of an emergency. Make sure your pet is included in your emergency plan. You may want to offer assistance to an elderly or disabled family member or neighbor that may be alone and may need your help during an emergency. Make your plans ahead of time and practice them.

Be informed: Know evacuation routes, and listen to local authorities when asked to evacuate. Everyone should know their risks. Whether you live in a coastal community or inland, speak with your insurance agent now about flood insurance and review your homeowner’s policy. Every state is at risk for flooding and homeowners insurance does not cover flood damage. Flood insurance is a cost-effective way to prepare financially for floods. To learn more about your risk and flood insurance, visit www.floodsmart.gov.

Inland states often receive damaging flooding as a result of hurricanes so even residents who don’t live in a coastal state should prepare. Knowing your flood risk, emergency evacuation plans and purchasing flood insurance are all things that inland residents should plan for as part of their hurricane preparations.

People who live in manufactured housing also should be aware of their risk during a storm as well as the many who are still residing in FEMA-provided travel trailers and mobile homes. People should have disaster plans and be ready to vacate their residence when advised by local authorities.

To stay informed during a storm keep a battery-powered radio for weather and evacuation information should you experience a power outage and have extra batteries on hand.

Get involved. Contact your local Citizen Corps Council to learn what efforts your community is taking to prepare for hurricane season, and learn how you can help. Through the Councils and Citizen Corps Partner Programs, it is possible to receive training in basic emergency response and find volunteer opportunities to assist your first responders in an emergency. To find a nearby Citizen Corps Council or to learn more about Citizen Corps’ Partner Programs, visit www.citizencorps.gov.

For more information on how to prepare for this hurricane season, please visit “Hurricane Season 08. Get Serious. Be Prepared” at www.fema.gov. There, you will find a comprehensive listing of information on family and business preparedness, disaster support links for people with disabilities and other special needs, and tips for preparing your pets for the next disaster.

Get Serious. Be Prepared.

FEMA coordinates the federal government’s role in preparing for, preventing, mitigating the effects of, responding to, and recovering from all domestic disasters, whether natural or man-made, including acts of terror.

Philip L. Bradley is the CEO of The East Cooper Insurance Agency in Charleston SC. He is a Personal Financial Representative and is licensed in the State of South Carolina in property/casualty and life and health.