Protecting Your Home Against Hurricane Damages

Hurricanes can cause millions of dollars of damage, affecting lives, properties and livelihoods. Case in point, Hurricane Katrina caused an estimated $89.68 billion in insured losses, according to the Insurance Information Institute. To date, it is the most costly hurricane on record. While homeowners can protect their homes by boarding windows and mitigating flood damage, it’s also important to consider potential financial repercussions by purchasing home insurance and building an emergency fund.

Explore how to protect your home and keep your funds intact after a devastating hurricane.

Hurricane season typically runs between June 1 and November 30 every year — but preparations should always be done before the season. These include purchasing emergency supplies, prepping your home, buying home insurance and creating a contingency plan. Running through the necessary safety precautions is critical to minimize the impact on your family, home and business.

Not all states have an equal risk of disasters. For instance, Florida or Louisiana have a higher risk of experiencing a hurricane compared to Michigan or Iowa. Generally, states with the highest hurricane risk are located along the coastline and are closer to the equator. Still, to make analysis easier, homeowners can use hurricane index maps to determine their home’s level of risk.

Preparing for a hurricane can minimize the potential damage it may inflict on your family and home. For instance, having a plan for hurricane season can go a long way in preventing a scramble to evacuate or losing too many items. Aside from being physically prepared, it’s vital to ensure your finances are ready for an emergency. This way, you won’t struggle in the aftermath.

When listening to hurricane alerts, you may hear several terms used frequently. Familiarizing yourself with hurricane-related terms can help you better evaluate your level of risk and the signs you need to evacuate.

Hurricane websites and alert services are essential during hurricane season. For families and individuals alike, it can serve as a guide to assess the area’s risk and, if determined, when evacuation will occur.

Use the following hurricane websites and alerts to keep yourself updated on the whereabouts and risks of a storm.

• National Hurricane Center (NHC): This is the official site for the U.S. government’s hurricane alerts, covering the North Atlantic and the Eastern North Pacific. You can use satellite imagery, aerial recon and several other forecasting tools.
• NOAA Weather Radio All Hazards (NWR): Next to the NHC, the National Weather Service Radio operates a nationwide network of radio stations, providing continuous weather information directly from the National Weather Service office.
• Weather.org: Weather.org offers several worldwide weather forecasts complete with satellite imagery, world radars, wind forecasts and more.

A hurricane evacuation zone is an area designated by letter and level of risk. While designations can vary from state to state, the most vulnerable zones are typically Zone A, B and C. Knowing your zone, which is often designated by the state and can be found on their official website, can help you determine when you are likely to be evacuated.

Hurricanes are often accompanied by power outages, which can lead to dire situations if you aren’t prepared. Put together an emergency preparedness kit with flashlights and extra batteries, a battery-powered radio, first aid kits, a fire extinguisher, a lighter, pet necessities, blankets, food supplies, cash and gas. This way, if a power outage hits, you will have everything you need to stay updated on the situation and survive.

Having home insurance is one way to protect your home against hurricanes. While it does not necessarily prevent damages to your home, it can pay for certain repairs should something happen.

However, not all damages may be covered by your standard homeowners insurance policy, so it’s essential to review your policy and add the necessary coverages to ensure you’re protected.

Hurricane damage is often caused by floods or strong winds — neither of which are covered by a standard home insurance policy. Unfortunately, no single policy can cover both events, so homeowners need to get two separate policies to stay protected against hurricanes.

In particular, flood damage can be covered by a separate flood insurance policy, which can only be purchased from the National Flood Insurance Program. On the other hand, windstorm insurance can pay for damages caused by wind gusts that exceed 35 miles per hour.

Understanding what flood and windstorm insurances cover can help you determine if they are the right coverages for you. For instance, if you live in an area prone to hurricanes but do not live by the coastline, you may get away with just needing a standard home insurance policy, as it can cover winds caused by hurricanes — but only to a certain degree.

Explore what flood and windstorm insurances do and do not cover using the tables below.

Getting flood and windstorm coverage against hurricanes is beneficial if you live in a high-risk area, such as a coastal city. However, homeowners in some areas can forego windstorm coverage if hurricane winds are not always strong.

Conversely, getting flood and windstorm coverage may not be worth it for homeowners who live in dry places. If there is less likelihood of hurricanes in your area, you may not need hurricane coverage.

Insurance providers take time to evaluate your home before letting you get insurance. If you’re trying to purchase coverage on the brink of hurricane season, you aren’t going to get it at the last minute. Typically, the waiting period for insurers can be anywhere from 10 to 30 days. This means that it’s best to get coverage against hurricanes at least two months before the season to ensure you’re covered on time.

There are resources available to understand the risks of hurricanes as a homeowner. Review them below.

• Ready.gov: Ready.gov offers a variety of resources on how to prepare for hurricanes, what to do, where to go and more.
• Ready.gov's Hurricane Season Preparedness Digital Toolkit: Prepare for hurricane season using Ready.gov’s digital tool kit.
• U.S. Geological Survey: Get data on flooding and storms by year and storm name using USGS’ resources.
• Red Cross's Hurricane Safety Information: The Red Cross is a nonprofit organization that can assist individuals in getting back on their feet after a hurricane. They also offer hurricane relief programs.
• Americares: Americares is a national nonprofit organization that provides supplies to disaster survivors, whether they’ve been affected by a hurricane, earthquake or another natural calamity.

MoneyGeek analyzed data from FEMA’s National Risk Index datasets to calculate the annual expected losses for all 50 states focusing on building damage and population exposure data, which considers the FEMA-determined statistical value of life to be $7.6 million. To calculate per capita risk, MoneyGeek collected the U.S. population as of 2016.

FEMA's National Risk Index data also includes estimates for agricultural losses caused by hurricanes, which MoneyGeek excluded from its analysis.