Named-storm timing
Why coverage cannot be added once a storm is near.
When a named storm heads into the Gulf, insurance companies can stop writing new policies and stop raising coverage for homes in its path.
A binding restriction is not something an agent can override.
It usually starts when the storm enters a set area of the Gulf or a watch or warning is posted. It lasts until the storm has passed.
Flood has its 30-day wait on top of that. A policy bought three days before landfall would not start until weeks after.
Named storm deductible
Wind coverage on the Coast usually has its own deductible.
Home coverage$300,000Storm deductible2%Your first share of storm damage$6,000
Depending on the policy, wind deductibles commonly run from 2% to 5% of the home's coverage.
“They explained why nobody could add coverage with the storm already in the Gulf, then made sure we never got caught like that again.”Trish M., Long BeachGet a flood quote