Florida residents who experienced damage from Hurricane Irma may not have been able to get money from their insurance company because the amount of damage that they experienced didn't exceed the cost of their deductible. In some cases, FEMA has denied claims saying that private insurance companies should pay them instead. However, a company called StormPeace is offering to send money to cover damage done to homes without the need for an inspection or a deductible.
According to the Florida Office of Insurance Regulation, losses from Hurricane Irma are now at $9.7 billion. That is about $1 billion higher than in April, and there had also been more than 54,000 additional insurance claims since then. It was expected that insurance claims would be made up to a year after the storm hit. The dollar figures do not include agricultural losses or damage done to government buildings. According to the state of Florida, agricultural losses were thought to be roughly $2.5 billion.
Homeowners in Florida should be sure to check their insurance policies ahead of the hurricane season. In most cases, flood insurance policies don't take effect for 30 days after they are purchased. Homeowners and renters insurance policies generally don't cover damage done by floods on their own. Those who have hurricane or flood insurance policies should make sure that they can afford the deductibles that are often higher than other forms of coverage.
Hurricane Irma in 2017 reminded state residents of their vulnerability to devastating hurricanes. To prepare for the 2018 season, government officials, emergency management teams and insurance companies have urged people to get ready by stocking supplies, preparing an evacuation plan and evaluating insurance coverage. These steps might prove beneficial because the forecast from the National Oceanic and Atmospheric Administration predicts a 75 percent chance that the 2018 Atlantic hurricane season will be normal or above normal. The season could produce five to nine hurricanes with at least one qualifying as a major storm.
Hurricane season is here, and it's time to think about how you're protecting your property. If you've had regular windows and glass in your home in the past, you may want to rethink your approach during this season. There are better, impact-resistant options that can keep your property safe from damage and debris.