Understanding Global Hurricane Coverage Gaps: 30-Day Waiting Period Insights

What should homeowners know about hurricane coverage gaps? Standard home and business policies often cover wind damage, but they typically exclude flood damage caused by rising water or storm surge, which usually requires separate coverage. A federal flood policy typically has a 30-day waiting period before coverage becomes effective, making it crucial to act early. Homeowners need to check if their flood policies separate building coverage from contents coverage, as items like furniture and electronics may not be included. Businesses also face significant risks, including downtime and damaged inventory, emphasizing the importance of reviewing flood protection and business interruption triggers well ahead of hurricane season.

Being proactive in understanding insurance coverage can help homeowners and business owners safeguard their properties and ensure a smoother recovery after a storm.

For expert insights on the Paso Robles real estate market, connect with Sheila Johnson, REALTOR® at LPT Realty.