The Atlantic averages 14 named storms each hurricane season; 7 become hurricanes, and 3 are classified as major hurricanes.
Some people don't know that Hurricane/Wind coverage can be excluded from the insurance policy.
You might be wondering why people remove Hurricane/Wind coverage. Well, if you live in an area not typically affected by hurricanes or strong winds, you may not need this coverage. Additionally, some people may want to save money on their insurance premiums and choose to exclude this type of coverage.
However, if you have a mortgage on your home, your lender will most likely require hurricane/wind coverage as part of your insurance policy. This is because they want to protect their investment and ensure that the property is properly insured against potential damages.
A single hurricane can wipe out years of home equity, financial savings, and possessions.
Temporary housing can get expensive, and although FEMA provides modest aid, it's a loan, not a grant.
And the psychological impact of a catastrophic event. Unwanted memories can rise at any time. When Hurricane Katrina happened, my young nephew, a child at the time, would randomly talk about the flooding, damage, and the aftermath years later.
Listen, don't wait for the next storm; protect what matters. To read how to save money on all types of insurance, order your copy of Insurance Savings.