Hurricane season is still up and there’s no telling what it will bring. The only consolation for homeowners is if their homes are insured and they can file claims in case their properties incur damages. However, when Consumer Reports made a survey of their subscribers who filed claims after Surperstorm Sandy, only 54 percent of the more than 8,000 respondents said they were highly satisfied with how their claims were handled.
For a better grip on reality, it helps to know what is and what is not covered by your home insurance in case the next big storm looms on the horizon.
The idea that a standard home-insurance policy includes coverage for disasters is just a myth. In reality, if you want coverage for floods, hurricanes, and earthquakes, you need to shell out extra cash, assuming your insurance company allows it. Thirty percent of those surveyed lacked the coverage; and for those who had it, it wasn’t enough. The solution: consider adding separate coverage for such disasters. Of course, it costs more. For example, it costs an average of $600 per annum to have flood insurance.
Another myth is that you’ll get your home’s current market value if it is totally destroyed. The reality is most homeowners are underinsured. The solution: boost your coverage by asking your insurer for a customized estimate of your home’s replacement cost. It also helps if you buy an extended-coverage rider who can make up for the rise in the labor and materials costs that often ensues after a big storm.
Finally, as most of the respondents have experienced so far, be prepared for a fight, especially for substantial claims because a prompt and friendly payout only happens in commercials.
For owners of steel buildings, there are a lot more reasons NOT to worry during this hurricane season. In the first place, properly designed and constructed steel buildings are extremely resistant to damages caused by strong winds, floods and heavy rain.
Steel, unlike wood, is strong, sturdy, does not warp, shrink and guaranteed to last. Steel buildings have proven their capabilities to stand up to extreme load conditions during hurricanes.
With all the building components fabricated at the factory and precision-cut to their exact specifications, steel buildings remain straight and true with little or no movement in the structural members. As a result, the roof and wall systems remain weather-tight. In addition, connections between the steel and the concrete foundation provide a sealed enclosure that will keep the floodwaters out.
With new technologies and a wider array of building materials compatible with steel, steel buildings are attractive alternative construction solutions for homes that offer the best protection against hurricanes and floods.