Hurricane Insurance
Insurance firm settles Hurricane Katrina lawsuit
United Services Automobile Association Insurance has settled with a Long Beach couple in a lawsuit over hurricane wind damage.
Hurricane Insurance Headache
Why doesn’t hurricane insurance cover flooding?
Because it is for specifically set up to pay only for hurricanes and the wind damage and resulting structural damage. Not all hurricanes cause flooding and not all flooding is the result of hurricanes- they are different risks, though they are associated at times. Flooding is also much more difficut to predict so the possible claim rate is not as clear as the rate is for wind damage at x mph. Therefore they are insured seperately.
Your car insurance actually is a combination of insurance polices just like your home may have a combo of flood and hurricane and fire.
Your car has comprehensibale part that pays for damages not related to crashes. Collision pays for crashes. They are different- in this case though they are listed on the same sheet of paper.
Here in Houston depending on where you are located, you may be subject to one or both or not in real danger from either.
In the south part of the city( which is almost 70 miles wide at some points)you are just a handfull of miles from the ocean and are subject not only to wind damage because the storm is strong as it comes ashore but you are at risk from a huge wave of water that will sweep inland and cause streams etc to back up and create add’l flooding because you are only a few feet above sea level and there is no place for water to go. In the north side you are 65 miles in land and the results are totally diffferent- your greatest risk is wind damage unless you are located in a flood zone.
In the middle fo the city there are also spots that have always been subject to flooding close to bayous etc and it has gotten worse as concrete has been laid around town- it varies from block to block. I own 2 homes one is in a floodplain and I carry flood insurance. The other is not even in the 500 year flood plain so I carry none but I do have wind damge ( hurricane) insurance.
It is the fairest way to make sure that onlythose who need something are requred to prucahse it by teh mortgage company.
All those folks in the last hurricanes who were paid either had flood insurance or could prove that the water damage was wind driven( ie forced into the house by the sheer veloctiy of wind pushing it). Those who say they did not understand that it did not cover flooding didn’t read the disclosures that made it very clear what was not covered- or they did but were unwilling to pay the extra 500 -1200 per year flood insurance can cost