Hawaii homeowners can learn a thing or two from their counterparts in Florida. With the advent of the hurricane season, begins the scramble for homeowners insurance, especially if this has not been undertaken previously.
People in Hawaii would have a good chance of living many years without experiencing a hurricane but to think that their homes and personal property are immune to the hurricanes can be a dangerous assumption to make.
There have been at least three hurricanes that directly impacted the Hawaii islands, over the past 3 years each of which left behind damages costing billions of dollars. This damage could have been managed or prevented if Hawaii homeowners had insured their homes adequately.
To assume that Hurricanes are not essentially dangerous is flawed. Hurricanes are a potently destructive combination of violent winds, torrential rains, and abnormally high waves and tides. Together, they are capable of causing widespread wreckage.
Hurricane-proof your Home
What are the points to consider if one is building a home or looking to protect ones investments in Hawaii?:
- Considering that Hawaii is one region that experiences winds blowing at speeds of up to 140 miles per hour, building a home here means according special attention to windows. These are the vulnerable areas.
- In cases where existing windows are being replaced, install impact-resistant window systems or impact-resistant shutters that close over the window openings. These will prevent flying debris from breaking windowpanes and will prevent the winds from building pressure in the house. When the winds enter the house they increase the load on the structure and the pressure builds up inside. Often the outcome maybe of the roof flying off.
- If you do not want the roof to be blown away, ensure that both the roof covering and the sheathing it attaches to, will resist high winds. The joints where the roof and the foundation meet the walls of your house are extremely important if your house is to resist the wind and pressures placed on the entire structure. Hurricanes clips are available to improve the security of older homes. For newer homes ensure that these clips are built into the structure to secure the roof to the foundation of your home.
- You also need to pay attention to the doors. Doors need to be securely anchored to the wall framing with at least three hinges and a deadbolt security lock. Each bolt must be at least one inch long.
Tips on Hurricane Insurance
Once you have completed ensuring that the windows and doors are hurricane proofed and the structure of your home is able to withstand the violent lashes of the winds, equip yourself with a hurricane policy.
There are some hurricanes proofing home improvements, which help reduce your premiums. However, wind and water damage are not covered under the standard homeowner policies.
Check with your insurance company to be sure your property is protected with a hurricane policy. You may need to buy additional coverage for this or you may need to contact the Federal Emergency Management Association, which offers flood insurance to financially protect your home from water damage.
Here are a few pointers you may need to know while obtaining hurricane insurance:
- Know that you need to obtain a hurricane insurance policy before the hurricane lands at your doorstep. Chances are that most insurance companies will not issue new homeowners coverage once an area has been placed under a hurricane watch or warning by the National Weather Service. This period of waiting may usually remain in effect for 48 hours after the watch/warning has lifted. Companies will ask for property inspection prior to processing applications for homeowners insurance after a hurricane watch or warning has been issued. There is no best time to purchase a hurricane policy. Do it now.
Also note that the Flood insurance, issued through the National Flood Insurance Program, has an automatic five-day waiting period. So it will need time to come into effect. - If you are worried about the rise in insurance rates post hurricane, don’t worry. Homeowner’s rates typically do not go up after a single hurricane. Rates are established separately for each state and for each territory within a state. Based on property insurance payments within the territory over the past several years, plus an amount held in reserve for a hurricane or other catastrophic event, these rates are generally increased only after a series of large catastrophic losses have drained this reserve.
Also, a homeowner's policy is not likely to be cancelled solely because of a hurricane. Companies can agree to a termination of the policy if there are dangers on the property that worsen the damages: dead trees or faulty roofs. - To ensure that your property is protected ensure that you have an adequate inventory of personal property. Itemize your belongings and include receipts, serial numbers, photographs and videotapes when possible. Store this list safely.
There are 'catastrophe teams' organized and deployed to the storm wrecked regions and who are available to handle large volumes of claims resulting from a disaster like a hurricane. The claims representatives will be present on the site of disaster as soon as it is alright to travel, dispensing with payment for damages and assisting you with alternate living arrangements when it is necessary. Most claims will be paid on the spot at the time of inspection.
Most policies will pay for Additional or Alternate Living Expenses which is temporary housing and other reasonable expense necessary to maintain your normal standard of living when a hurricane makes your dwelling uninhabitable and the damage is caused by a covered peril. Most policies also will cover reasonable expenses for removal of debris.
If your personal property like furniture, clothes and other contents of a dwelling have been destroyed, then, you may need to find out exactly how much will be covered by your homeowner’s policy. Most Homeowners policies typically cover contents up to specified limits, usually 50 percent of the coverage on the dwelling. Therefore, depending on the policy coverage, the company may pay for a new replacement item, or payments may be reduced based on the item's depreciation.
To protect your property from the damages via rising water levels or tidal water, know that these are specifically excluded from standard homeowners policies. The NFIP offers flood insurance policies, which are separate, special policies, purchased in conjunction with a homeowner’s policy and from the same office or agent. This offers federally subsidized coverage and is administered by the Federal Insurance Administration, an arm of the Federal Emergency Management Agency.
Just because you do not live in a flood plain does not mean that you do not run the risk of being flooded. Flood insurance is advisable if your home is in an area declared a flood zone under the National Flood Insurance Program. Most insurance agents have maps and will know whether the property is in a flood zone. Mortgage companies also know and generally require roof of flood insurance at the time of closing on the loan.
Where damage to motor vehicles is concerned, this is not covered by a homeowner’s policy. Look out for ‘comprehensive coverage’ in your automobile insurance cover to protect your vehicles from damages brought on by Hurricanes and subsequent floods.
Protecting your assets requires careful thought and preparation. Act now to avoid hassles when the hurricane comes visiting. Check your policy regularly and ensure that your coverage is up-to-date and reflects the present value of your property.
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