Hurricane Season Prep for Homeowners: Insurance, Savings and More

If you own a home in a coastal area, storm season is part of life. The best time to prepare is long before a storm shows up on the forecast. A little planning now can protect your property, your savings and your peace of mind.

Review Your Insurance Coverage

Pull out your homeowners policy and read it closely, ideally with your agent on the phone. Focus on a few key questions:

• Wind and hurricane coverage: Is wind damage covered, and is there a separate hurricane deductible? These deductibles are often a percentage of your dwelling coverage, which can be a larger amount than you expect.
• Flood insurance: Standard homeowners policies typically do not cover flood damage. Flood coverage is usually a separate policy, and new policies often have a waiting period before they take effect, so do not wait until a storm is near.
• Coverage limits: Make sure your dwelling coverage reflects what it would cost to rebuild today.
• Additional living expenses: Check whether your policy helps with hotel and meal costs if your home becomes unlivable.

Keep in mind that private mortgage insurance protects your lender, not your home. It does nothing for storm damage, so it is not a substitute for proper property and flood coverage.

Prepare the House

1. Install storm shutters or have fitted panels ready to go.
2. Reinforce garage doors and entry doors where possible.
3. Trim trees and remove dead branches near the house.
4. Have a plan to secure or bring in patio furniture, grills and decorations.
5. Take photos or video of every room and your belongings for insurance records.

Protect Your Finances

An emergency fund can cover your deductible, temporary housing or urgent repairs while you wait on an insurance claim. Store copies of your policy, mortgage statement and ID in a waterproof bag or secure cloud folder so you can reach them quickly. It also helps to keep some cash on hand, since power outages can knock out card readers and ATMs for days after a major storm.

If a storm damages your home or affects your income, contact your mortgage servicer right away. Many servicers offer help after a declared disaster, which may include temporary forbearance or a loan modification, depending on your loan. Reaching out early gives you the most options.

Think About Storm Readiness When You Buy

If you are shopping for a home, ask about the roof’s age, window protection and whether the property is in a flood zone. These details can affect your insurance costs and, in turn, your monthly budget. Our mortgage calculator lets you add insurance estimates to see the full picture, and our first-time home buyer page covers other things to keep in mind.

Questions about how insurance and storms factor into your mortgage? A FLO Mortgage loan officer is here to help. Meet our team and reach out anytime.

This article is for general education and is not a commitment to lend. All loans are subject to credit approval, underwriting guidelines and program availability. FLO Mortgage, Company NMLS #1835856. Equal Housing Opportunity.