Are You Covered for the Storm?

Before the first storm watch of the season scrolls across TV screens, take a few minutes to visit with your Texas Farm Bureau Insurance Agent to make sure you have sufficient storm coverage.

Two years ago, Texas experienced more severe hail events than any other state in the country, causing $1.7 billion in insured losses statewide, says Texas Insurance Commissioner Eleanor Kitzman. Meanwhile, more than half of the total losses paid by Texas property and casualty insurers throughout the last 12 years involved extreme weather.

Tornadoes, straight-line winds, and heavy rains can exact a costly toll on property, too, in nearly every county of the Lone Star State.

Hurricane season along the Gulf Coast runs from June until November. The Insurance Council of Texas reports that Hurricane Ike, which slammed into Galveston Island in September 2008, caused $12 billion in flooding and wind damage.

While rebuilding in the wake of a flood, you can count on your regular homeowner’s insurance to cover additional living expenses, items like hotel bills and restaurant meals if you can’t live at home during construction. However, you would need to turn to the federal government’s flood insurance program to foot the bill for the majority of building costs. For a few dollars a day, the National Flood Insurance Program (NFIP) offers coverage for up to $250,000 for a single-family residence and another $100,000 for personal possessions. For more information on federal flood insurance, visit FloodSmart.gov or consult your Texas Farm Bureau Insurance Agent.

The growing ranks of Texas renters can also safeguard their financial futures with renter’s insurance.

“It can be extremely expensive to have to re-buy the entire contents of your home, so a renters insurance policy provides very important financial protection when there is a hurricane or other covered disaster,” says Jeanne M. Salvatore, the Insurance Information Institute’s consumer spokesperson.

And remember, regardless of the forecast, Texas Farm Bureau Insurance Agents are there to help you weather the storm.

“Customers need to remember that homeowner’s policies are never a one-size-fits-all type of situation,” says Dennis Smith, who manages the Texas Farm Bureau Insurance Agency in Lancaster County.

There are other factors beyond severe weather that might affect the needs of your policy.

Say you remodeled during the previous year — perhaps added a second floor or installed an in-ground swimming pool. Or maybe you inherited some fine antiques that now adorn your home. Your agent might recommend you amend your policy so that you will have enough coverage in the event of a weather-related catastrophe.

“By having an annual review of your policy, your agent can help you decide what you really do need,” Smith says.