Living in Florida means accepting the threat of hurricanes damaging your home. It happened too many times in the past. The Hurricane Season is nothing to scoff at. Thankfully, insurance companies in Florida cover hurricane damage and compensate homeowners for their losses. ProFloridian Public Adjusters can help you understand your rights under hurricane coverage.
Know Your Hurricane Coverage
Hurricane damage can mean anything from damage to your roof (broken shingles and missing tiles) to water damage, flooding, and so on. The insurance adjuster will assess your home and ascertain whether the incurred damage was caused by a hurricane or something else. To know what can affect the odds of your hurricane claim, it’s better to read your insurance policy.
Different insurance companies have different policies. Some may cover everything type of damage related to hurricanes, while others may exclude specific damage types. You’ll only know what to expect if you give your insurance policy a careful reading. Though, ProFloridian Public Adjusters is here to help you. So, below you’ll find several key terms that will help you understand your rights better.
Insurance policies offer coverage for various perils like water, fire, wind, mold, hurricane, and so on. If your policy is All Risk (Open Perils or Named Perils policy), then it may limit your coverage. Specific exclusions are subjective to each individual policy, so you’ll need to keep reading to find out.
RCV And ACV
How does your insurance policy calculate your settlement, in case of property damage? Does it use ACV (actual cash value) or RCV (replacement cost value)? ACV subtracts both the depreciation and deductible from your payout, and you receive the difference. On the other hand, the RCV only subtracts the deductible and won’t factor in depreciation. So, you end up receiving more money with an RCV policy.
What About Deductibles?
Your deductible is the money you pay for the repairs. It’s an out-of-pocket expense that you don’t get back from your insurance company. The company only pays the difference in the total repair cost. However, they’ll need proof that you paid the deductible before handing you the rest of the payout. Without proof, the insurance company may refuse to pay the settlement.
What Is a Damage Exclusion?
Exclusions are limitations to insurance policies. When you see an exclusion, it means that the policy doesn’t cover that specific damage type. So, if hail damage is excluded, it means the insurance company doesn’t cover damage caused by hail. It’s better to check your insurance policy and see what damage types are excluded. This way, you can prepare for unexpected events better.
What Do I Do in Case of Hurricane Damage?
Hurricane damage poses a severe threat to households. While there’s almost nothing you can do in the middle of a hurricane, after it ends, you need to react quickly. Filing a hurricane damage claim in Florida is a hassle, but ProFloridian Public Adjusters can make things easier. We’ll explain everything about the claim procedures, give you an idea of what payout to expect, and file the claim for you.
We’re the best hurricane damage public adjusters in Florida, and with our help, you can receive maximum compensation for your losses. We’ll help you navigate through the claim process, offer assistance in case the claim has been previously denied, and fight for your rights. As a professional public adjusting company, we represent your rights and not the insurance company.