August 03, 2006
Don't Fiddle Around Before A Storm
If you own a home, especially along the coast, my sympathies are with you. The last few years have been bad in general and particularly so for homeowners who’ve been trying to get insurance. Companies are either dumping homeowners or refusing to write new policies as they continue to smart in the aftermath of the hurricanes that lashed the country last year.
So, while a storm heading toward Florida must make homeowners sit up and wonder if they can beef up their coverage, fact is there is not much they can do. However, you cannot blame insurers for all the problems homeowners face. Even when there is prior knowledge of storms, homeowners prefer to wait. Many homeowners don't even think about insurance coverage until just before the damage is a certainty, or even worse, after a storm has passed. Fact is that once a storm is close enough to create warnings, insurance companies quit writing new business, and they many not even update existing policies. Wesh.com reports:
"There's a 30-day waiting period," said insurance agent Mike Meza. And don't bother scrambling right now to buy flood insurance, even if you don't live in a flood zone, he said. "It's not going to help you now," Meza said. "It's going to help you 30 days down the road."
Read more: Don't Wait For Storm To Think About Homeowners' Insurance
--
Did you enjoy this post?
