Whether we like it or not, it’s hurricane season. Here are some tips that can help you protect yourself as a homebuyer and a homeowner.
Hurricane season is upon us, unfortunately. However, even with rough weather impending there are still things you can do both as a homeowner and as a homebuyer to protect yourself and your home this season.
First, let’s talk about what you can do to protect yourself as you’re buying a home during hurricane season.
One of the biggest things to make sure you have is proper insurance. The insurance industry has what’s known as a box—they draw a box on a map that extends from the northern end of Virginia down the east coast of Florida to Cuba and then back up the west coast of Florida to Virginia (see 0:54 in the video above for a pictorial representation of this box).
If there is a named storm in this box when you have a scheduled closing and you don’t have your insurance policy written already, then you may not be able to close on it. That means when you’re buying a house, you’ll want to make sure that you have an extension put in place so that you’re still under contract when the storm hits.
Of course, the types of coverage you’ll want to have in place are flood, wind, and hurricane coverage. You’ll also want to check into the deductible. In many cases, deductibles for these types of coverages can be quite high—sometimes as high as 2% of a home’s value. On a $300,000 house, that can be a $6,000 deductible, so be prepared for that.
Now, let’s talk about what current homeowners can do to protect themselves for when the storm hits.
Like homebuyers, you’ll want to make sure that you have appropriate insurance coverage well before hurricane season hits.
Additionally, keep the following things on hand:
- Bottled water
- Non-perishable food in case the power goes out
- Extra batteries and flashlights, perhaps even candles
- A battery-operated radio
- A generator, if feasible
- Bags of ice and coolers to store food
- A five-gallon bucket for bathing and other purposes
Hopefully this information is useful to you. I only want you and your family to be safe throughout this hurricane season. If you have any further questions about preparing yourself for hurricane season, don’t hesitate to reach out to me. Stay safe out there!