How Much Is Hurricane Insurance for Homeowners and What to Know

Hurricane insurance can be a lifesaver for homeowners in hurricane-prone areas.

Typically, hurricane insurance is a separate policy from your standard homeowners insurance, which may not cover damages from high winds and flooding.

The cost of hurricane insurance varies depending on factors like location, home value, and flood zone.

In the United States, the average annual cost of hurricane insurance is around $2,000, according to the National Flood Insurance Program.

This cost can be a significant burden for many homeowners, but it's essential to have adequate coverage to protect your home and belongings.

Most homeowners insurance policies cover damage caused by wind, including hurricanes, but you might need to buy separate windstorm insurance if you live in a high-risk coastal area. This coverage might also be available as a rider on your current policy.

Flood damage is not typically covered by standard homeowners insurance, but you can buy flood insurance separately through the National Flood Insurance Program or on the private market. The average federal flood insurance policy costs about $819 a year, according to NerdWallet's analysis.

Your homeowners insurance policy is divided into different sections, including dwelling coverage, other structures coverage, and personal property coverage, all of which can help protect you from hurricane damage.

Personal property coverage is a must-have to protect your belongings from hurricane damage. This coverage financially protects your personal items, such as furniture, clothes, electronics, and tools, up to a certain limit.

Some high-value items, like art and jewelry, may have specific sub-limits and require special endorsements to ensure they're fully protected. It's essential to review your policy to understand what's covered and what's not.

If you don't buy coverage for personal property, your belongings won't be covered if the damage is caused by a hurricane insurance peril, even if you have extensive personal property coverage on your regular policy.

A standard homeowners insurance policy typically covers damage caused by wind, including hurricanes, in most states. However, if you live in a high-risk coastal area, you might need to buy separate windstorm insurance.

In Atlantic and Gulf Coast states, your policy may include a separate "hurricane deductible", which can be a percentage of your home's value or a flat dollar amount. For example, if your home is worth $400,000 and your hurricane deductible is 1%, you'll be responsible for $4,000 of the covered loss.

Your policy should protect the interior and exterior of your house from storm damage, including your roof, walls, patio, HVAC components, and home wiring. Dwelling coverage is dedicated to your home's physical structure and its attached features, up to your dwelling coverage limit.

Other structures coverage protects features on your property not attached to your house, such as fences, sheds, pools, gazebos, and more, up to your other structures coverage limit, which is usually up to 10% of dwelling coverage limits.

Here's a breakdown of the different sections of your policy related to hurricane protection:

Your policy may also cover expenses related to loss of use, such as hotel stays, gas, and food, if a hurricane renders your house uninhabitable.

You have a few options when it comes to purchasing hurricane insurance. You can add a rider to your existing homeowners insurance policy with its own deductible, buy a separate windstorm or flood policy, or verify if your master insurance policy has hurricane protection built in if you live in a condo.

Some insurers, like TGS Insurance, automatically include windstorm/hail coverage with a 2% deductible in their home insurance policies, making it customizable based on your needs.

You can also choose to supplement your existing homeowners policy with flood insurance or windstorm insurance, and one of their agents will help you with the process.

Choosing the right policy can be overwhelming, especially when it comes to hurricane coverage. Your insurance carrier, policy type, and state all influence what you're covered for, so it's essential to speak with your agent about what you're and aren't covered for.

You have a few options when it comes to adding hurricane coverage to your policy. You can add a rider to your homeowners insurance policy with its own deductible, or buy a separate windstorm or flood policy to cover hurricane-related events. If you live in a condo, verify if your master insurance policy has hurricane protection built in.

If you decide to add a rider, it may be easier to file claims with one company. This is because any claims can be filed with your homeowners insurer, rather than having to deal with multiple companies.

Here are your options for adding hurricane coverage to your policy:

Assessing your risk is a crucial step in purchasing a policy that meets your needs. Windstorm coverage is typically regional, usually along the Gulf Coast and East Coast from Florida to New York, but island residents may also need to buy coverage.

If you live in a coastal area, you're likely at risk for hurricane damage. Residents on the East Coast as far north as Boston may have a relatively high hurricane risk score on the Federal Emergency Management Agency (FEMA) Hurricane Risk Index.

To understand your level of risk, consider the types of weather events that tropical cyclones can produce. Storm surges, heavy rainfall, flooding, strong winds, tornadoes, and landslides are all potential hazards.

Here are some factors to consider when assessing your family's hurricane exposure:

Remember, extreme weather patterns are changing, and more areas are at risk for damage from hurricanes and severe storms.

TGS Insurance Agency has been helping Texans get the coverage they need since 2017.

The average cost of full hurricane insurance coverage in Texas is about $2,214 per year among TGS Insurance customers.

This average includes homeowners insurance, flood insurance, and windstorm coverage written at a 2% deductible.

TGS Insurance customers save $2,118 per year compared to the state's average rates for complete hurricane protection.

The cost will vary depending on many factors, including your home's location and hurricane risk, your home's value, and the deductible amount you select.

Here's a breakdown of the average amount in Texas for TGS Insurance customers compared to the statewide averages for each component of Hurricane Insurance:

Hurricane insurance costs vary greatly depending on your location, with Florida having some of the highest rates in the nation due to its susceptibility to hurricanes.

The median annual cost of flood insurance for single-family homes nationally is $786, according to FEMA. However, flood insurance costs also vary depending on your location, coverage limits, and home elevation.

A hurricane deductible is typically higher than your standard or all other perils (AOP) deductible, and it's usually between 2% and 10% of your dwelling coverage. For example, if you had dwelling coverage of $300,000 with a 5% hurricane deductible, your out-of-pocket costs toward a claim would be $15,000.

Here are some average costs for hurricane insurance in the Gulf Coast states:

Keep in mind that these costs do not include additional costs for standalone wind policies or private flood insurance.

Your deductible is the amount you must pay before your insurance company begins to cover the damage. A hurricane deductible is usually between 2% and 10% of your dwelling coverage.

In several states prone to hurricanes, including Florida, your policy has a separate deductible for hurricane damage. This is typically higher than your standard or all other perils deductible.

Your hurricane deductible is usually a percentage of your dwelling coverage, not a fixed dollar amount. For example, if you had dwelling coverage of $300,000 with a 5% hurricane deductible, your out-of-pocket costs toward a claim would be $15,000.

The higher your deductible, the lower your premium. If you're adding wind coverage to your homeowners policy, a separate deductible may apply for those claims.

If you have a mortgage, your premiums will be paid through your mortgage provider in most cases. Most importantly, your insurance agent can help you file claims as necessary.

Here's a breakdown of how hurricane deductibles work:

Note that this list is not exhaustive, but it includes many states prone to hurricanes.

Your car insurance can cover damage from a hurricane if you have comprehensive coverage. This type of coverage pays a claim up to your vehicle's actual cash value minus the deductible. Comprehensive coverage will also pay for losses related to weather, such as lightning strikes, floods, and wind damage.

Comprehensive coverage is a must-have for drivers who live in areas prone to natural disasters. It's a relatively affordable addition to your insurance policy that can save you thousands of dollars in repairs.

Filing a claim can be a daunting task, especially after a hurricane has caused significant damage to your property. You'll need to act quickly, as most insurance policies require you to report damage within a certain timeframe, typically 24 to 48 hours.

The cost of hurricane insurance varies widely depending on the location, value of the property, and the level of coverage. For example, a home in a high-risk area like Miami can cost upwards of $2,000 per year, while a home in a low-risk area like Des Moines may cost as little as $300 per year.

If you're unsure about the claims process or have questions about your policy, don't hesitate to reach out to your insurance provider. They'll be able to walk you through the process and provide guidance on what's covered and what's not.

Some policies also offer additional features, such as flood insurance, which can be purchased separately or as an add-on to your existing policy. This can be especially important if you live in a flood-prone area, as it can help protect you from costly damages.

Your insurance provider may also be able to connect you with a network of contractors and repair services to help with the restoration process. This can be a huge time-saver and help you get back to normal as quickly as possible.

Texas is a state that's no stranger to hurricanes, and with that comes the importance of having adequate insurance coverage. The average cost of full hurricane insurance coverage in Texas is about $2,214 per year among TGS Insurance customers.

This cost includes homeowners insurance, flood insurance, and windstorm coverage written at a 2% deductible. If you're a TGS Insurance customer, you can expect to save around $2,118 per year compared to the state's average rates for complete hurricane protection.

Homeowners in Texas can expect to pay around $1,982 per year for average home insurance, and an additional $700 per year for average flood insurance.

Here's a breakdown of the average annual premiums for hurricane insurance in Texas:

The cost of hurricane insurance in Texas can vary depending on several factors, including your home's location and hurricane risk, your home's value, and the deductible amount you select.