RENO, Nev. (KOLO) – Images from the west coast of Florida show the speed of a hurricane. Ian was particularly vicious, with winds of 150 miles per hour. It was followed by a storm surge where ocean water pushed onto land.
There is wind and water damage. What will the insurance pay?
“Wind is a covered peril in your basic condo policy,” says John Barsanti, Farmers Insurance Agent. If you have fire. If there is lightning. If there is wind. There are other things as a basic part of your home insurance policy. They are automatically covered. Flood is not one of them,” he says.
Barsanti says he hasn’t received any calls from customers asking about their flood insurance. That’s to be expected, he said. Here in northern Nevada, those who live next to a water source or those who have a mortgage have flood insurance.
But when disaster strikes elsewhere, Barsanti says it’s not a bad idea to consider what type of coverage you have and what that means.
One issue that hasn’t been widely discussed, he says, is car insurance. Vehicles have been tossed about in Florida by the wind or swept away by floodwaters.
“So all the cars are going to be covered,” Barsanti says. “As long as you had full coverage on your car. There is global and collision, these are the two things that protect the physical value of the vehicle,” he says.
Barsanti says insurance companies and their agents have set up temporary booths or storefronts in Florida where homeowners can find out what’s covered and what isn’t. They may find that the exterior of the house was protected, but the contents were not part of their insurance policy.
He says FEMA will arrive on the scene to help homeowners with low-interest loans so the rebuilding process can begin. It’s overwhelming, he says, but it might be less so if, as a landlord or renter, you know what’s covered before the disaster.
“It makes so much sense to me to properly protect this asset to make sure of all the different things you can protect it from. You do,” Barsanti says.
Although flood insurance is not recommended for many people living in Northern Nevada, there is some coverage you may want to consider.
This is earthquake insurance.
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