Ensuring a home is covered by hurricane insurance

Living in Florida inherently comes with the risk of experiencing a hurricane at one time or another. These storms can cause significant damage to homes, so it's important for homeowners to protect their financial interests with insurance. This should be one of the first steps newcomers to the state make, especially if they are moving during hurricane season. A storm can happen at almost any point in the season, so being prepared is essential.

Losses from hail storms jumped in 2008

In 2008, the cost of hail damage caused by thunderstorms in states like Florida nearly doubled to $19 billion per year. Every year after that, costs have remained high, but the insurance industry doesn't understand the cause. According to one industry analyst, there are several possible weather-related and socioeconomic causes that may explain this phenomenon. The biggest mystery is why the numbers spiked in 2008 in particular rather than gradually rising over time.

New program helps Florida residents prepare for hurricane season

The Prepare Florida program will help residents of the state take measures to protect themselves before a major storm hits. Taking action prior to hurricane season can be important because hurricanes can often form and make landfall with little warning. Ideally, Florida residents will have an emergency kit that will make it possible to organize financial and other information in one place. The program also offers advice about how to find insurance and how to file a claim.

Flood program receives another extension

Florida residents may be interested to know that the U.S. House of Representatives approved on May 30 a short-term continuation of the flood insurance program through June 14. This was after the House failed to reauthorize the program as part of a $19 billion disaster aid bill. The same broader bill has already been cleared in the Senate. If it passed the House, it would have kept the program going until Sept. 30.

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