Insurance is failing hurricane survivors: 'People thought they were covered'
By Lauren Aratani in New York
Published Sat 12 Oct 2024 06.00 EDT
As millions of US residents begin working to file insurance claims on their homes in the aftermath of Hurricanes Helene and Milton, many could be denied, particularly if their homes were damaged by flooding.
A quirk in the US home insurance market is that flood insurance is separate from typical home insurance, which usually covers wind damage from hurricanes but not flooding. Homeowners must purchase flood insurance separately if they want their homes protected against flooding.
And many dont. In some areas where Hurricane Helene hit the hardest, less than 1% of homes had flood insurance when the storm hit. In Buncombe county in North Carolina, home to Asheville, only 0.9% of homes had flood insurance, according to data from the Insurance Information Institute.
https://www.theguardian.com/us-news/2024/oct/12/flood-insurance-hurricane-milton-helene
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jimfields33
(19,382 posts)If your home floods and you dont have flood insurance then you pay. If you have flood insurance then they pay.
Insurance companies will pay for any non flooding property damage.
The one thing to know is that the deductible is higher during a hurricane. Typically 2 percent of the value of your home.
For those living in hurricane areas, breaking out the homeowners insurance policy and reread it is a good idea so there is no surprises.
in2herbs
(3,443 posts)because the ocean's salt water has burned the EV's lithium battery and car.
I can imagine insurance companies saying the damage is an act of Gawd and therefore not covered. So people will be out their homes and their cars.