July 1st marks the beginning of hurricane season. If you live on or near the coast, be sure to check your homeowner’s policy to be sure you are covered for the full replacement cost of your house and its contents. Storm surges can wipe out homes close to the shore, so take time to check that your jewelry, art, family heirlooms, and any other valuables are adequately covered by the policy limits or additional property riders (see our post on high value items for more information on insuring your valuables).
Wind and natural disasters are covered by home policies as listed perils, however the combination of water intrusion and any lengthy evacuation absences can lead to mold and mildew growth. For the most common policy type (the HO-3), a mold, fungus, and wet rot issue may be covered in whole, partially, or completely excluded depending on the insuring company. Check your policy and be sure to add this protection if you are not covered; if you cannot find that information on your policy then talk to your agent to find out. Natural disasters are terrible things to deal with, but having the proper insurance coverage can assuage the difficulty of rebuilding and alleviate the financial burden of getting life back in order.