Hurricanes are a growing threat to homes, especially in many parts of Texas and your first line of defense against them is a good homeowners insurance policy that adequately covers the structure and its contents.
Is your current policy limits still enough?
As any homeowners insurance agent can tell you, claims keep increasing and rising because yes there is truth in the statement that hurricanes are getting bigger and lasting longer over the years.
Since it is not possible to change what Mother Nature does, the best recourse that anyone has is to keep reviewing their home owners insurance policy and increasing the coverage as necessary.
Hurricanes Are Worsening Over Time
It is becoming increasingly obvious every year to homeowners insurance providers that hurricanes are worsening, getting bigger, stronger, and longer-lasting.
Whether it is due to specific weather patterns, climate change, or anything else, the fact remains that stronger hurricanes of longer duration cause more damage, especially to houses and smaller buildings.
A startling trend that insurance agencies are discovering through various industry studies is that over the past half-century, more hurricanes making landfall are staying stronger and lasting longer than they used to as opposed to weakening and fizzling out quickly after making landfall.
The most significant increases have occurred in the last twenty-five years!
Hurricane-Related Insurance Claims Are Increasing
Based on this news about the way hurricanes are behaving these days, it stands to reason that these longer-lasting storms are causing much greater damage.
Particularly in the last two decades, homeowners in hurricane-prone areas have made the most and largest claims to their home owners insurance due to having sustained more severe and costly damage.
Hurricane Trends Affect More Than Just Homes and Buildings
Beyond the increase in homeowners insurance claims, continued and excessive hurricane damage has affected many other things as well.
From the price of building materials going up as supply goes down during rebuilding periods to the need to re-evaluate zoning laws and redesign structures, hurricane damage reaches far and wide.
The eventual result of all of this is higher home insurance costs for everyone since the cost of repairing damaged property is skyrocketing.
Hurricane damage tends to have a trickle-down effect that seeps into many other industries as well, increasing those costs.
Are You Prepared For Hurricane Season?
With Texas hurricane season right around the corner, is there anything you can do to prepare for it?
Homeowners insurance agencies say yes - to a point.
While none of us can control the weather, you can still protect your property with a good homeowners insurance policy that provides enough coverage and reflects the rising costs of repairs and item replacement.
Meet with your agent yearly at policy renewal time to review the coverage the insurance policy and increase coverage limits, if necessary.
It may cost a little more; however, you won't face any expensive surprises if hurricane damage does happen!
