When a hurricane is barreling down, most people aren’t thinking about insurance. But after the waters recede, the debris is swept up, and the families are counted as safe, insurance is often all people think about. Lurking behind the lives lost and people displaced in Harvey is the worrying fact that 85% of Houston’s homeowners don’t have flood insurance, and even worse for a city dependent on cars: A million cars have been flooded and essentially totaled. Congress’ $7.9 billion relief bill is just the down payment on a long, costly process. So, as Irma is almost certain to cause major damage in Florida, here’s what can be done now, and what can be done in the future:
– Remember the first rule of insurance policies: If it doesn’t explicitly say it’s covered in the policy, assume that it isn’t. Flood insurance is generally separate from other forms of insurance, so check your policy and see. Getting separate flood insurance is a must, in many cases, so price that and lock that in. Don’t assume being away from a coast will protect you, either. Landlocked Vermont saw some of the worst flooding from Hurricane Irene, thanks to overflowing rivers.
– If you rent, get renter’s insurance. It’s surprisingly cheap, and it can be bundled with other insurances. Start with your auto insurer, and you might save a little money on your policy.
– Document everything. If insurance companies fight your claim, you’ll need every last scrap of proof you have. In the wake of Hurricane Katrina, for example, enormous numbers of lawsuits were filed against insurers who rapidly became the key villains in what’s still an unfolding story. Take photos or videos of your home, apartment, vehicle, valuables, anything you have insured, and upload them to Google Drive or another cloud storage service for safekeeping. Also document any effort you take to protect your valuables.
– If you don’t have comprehensive coverage for your car, you likely won’t be covered. Even if you are covered, prepare for your car to likely be considered totaled. Cars aren’t designed to sit in water for long periods of time, and if you’re flooded above the dash, it’s probably junk.
– It’s unlikely you can get insurance at the last minute, and if you can, it’ll be expensive. But, especially if you rent your apartment, it’s worth a shot. In many cases, renter’s insurance is dirt cheap on a normal day, so paying for a quick policy might be worth it, even if you think everything in your apartment is cheap. Add up what it’ll cost to replace, and you’ll see that it isn’t.
– Finally, and most importantly, remember this: Your safety is more important than your stuff. TVs, sofas, and cars can be replaced. Your life can’t. Your couch doesn’t need you to be its hero.
