What you need to know about storm insurance

Storm insurance facts


Cleanup is underway in Horry County.

That leaves residents focusing on a new problem…paying for property damage. New’s 13 clarified some lesser known facts about storm insurance.

The first thing a person affected by the storm should do is become very familiar with their insurance policy.

One way to do that is checking the declaration page of the policy for your deductible.

Most people have a flat deductible they have to reach before insurance kicks in but here’s where things get tricky.

A named storm deductible or Hurricane deductible changes that flat dollar amount to a percentage.

And it’s not based on your loss, it’s based on the percentage of your home as Sammy Truett of VP Moore and Associates Insurance explained.

“So you had a 5 percent wind deductible and a 200,000 dollar home, you’re going to have a 10,000 dollar wind deductible.”

That means you pay 10,000 dollars out of pocket before insurance steps in. Comparing deductibles to the amount of home damage is a good way to assess whether you want to go through insurance or foot the bill yourself.

It may take adjusters a while to come to your home, agents suggest taking picture before making any repairs.

It’s also important to have flood insurance even if you live in an area that does not traditionally flood. More than 20 percent of flood claims come from people living in moderate to low risk flood areas. According to the FEMA website, those claims receive more than one third of federal disaster assistance