As hurricane season peaks, owners should check coverage of flood

For many homeowners, flood insurance coverage may seem optional. For example, if the creditor does not require flood insurance or if you don't already have a mortgage, flood insurance may seem "unnecessary". However, the need for flood insurance is always present and as hurricane season peaks in U.S. owner should be aware of what kind and how much they have coverage.

The insurance information Institute reported last week that the urgency of this issue is even bigger this year as the National Flood Insurance Program (NFIP) is set to expire and will only be selling new residential and commercial policies by Thursday, 30 September 2010.The peak load of hurricane season-through 30 November-though a hurricane could beat the United States at any time you do not renew the NFIP flood program on 30 September-owner may not be possible to buy flood insurance at all until further notice.

The wind and hail coverage during a standard homeowners insurance policy may cover damage caused by hurricane force developed in turbine and driving hail growing flood waters is usually seen during any hurricane can cause a quantity devestating damage to residential and commercial buildings. The damage caused by the flood waters is not covered by a policy default owner and only provided during a flood insurance policy. 

This year also marks the fifth anniversary of Hurricane Katrina is a grim reminder for many u.s. residents in southern coastal States that flood insurance and consciousness of Hurricane should not be taken lightly.Yet even after Hurricane Katrina took about 1400 lives and caused nearly $ 16 billion in damage from flooding, only about 1 in 10 owner in the United States have a flood insurance policy.(For more information see whitepaper III, Hurricane Katrina: The Five Year Anniversary).

Your best bet is to include your understanding of your flood insurance coverage on your hurricane preparation plan. ask your insurance agent real estate on the kind of coverage that you have in the case of a hurricane and or is not sufficient. make any changes to your policies now--before disaster strikes. And remember to re-evaluate their coverage next year too.

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