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A hurricane is defined as a tropical storm with a wind of more than 74mph, and an eye of 20-30 miles across. It is caused by a combination of a low-pressure system, warm temperatures and a moist atmosphere. The hurricane season runs from June to November each year and Florida is especially vulnerable. Florida residents should be well-prepared for hurricanes and should ensure that their Florida hurricane insurance is adequate to rebuild their homes and cover them for additional living expenses.

According to the Insurance Information Institute (I.I.I.), 8 of the 10 most expensive hurricanes in terms of loss and damage in US history occurred in Florida, accounting for approximately 19% of hurricane losses in the whole country. Florida’s 1992 Hurricane Andrew caused $23 billion in insured losses and more recently, Katrina’s losses (Florida only) amounted to $606 million (both of these amounts are expressed here in 2009 dollar terms). It’s important to note that these amounts do not include losses from flooding. 

In Florida, hurricane insurance is included in home-owner policies and its importance cannot be overstated. Flood insurance is not included and will need to be purchased separately. According to the I.I.I. less than 50% of home-owners in the State have flood insurance.

As a resident of Florida, hurricane insurance is vital if you want to avoid excessive losses. You should also ensure that your property is well-prepared in advance in case of strong winds, in order to minimize the damage if you are hit with a hurricane. 

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