There are two critical must know facts regarding hurricane insurance. Homeowners insurance is not hurricane insurance and there is a 30 day waiting period. The Atlantic hurricane season runs from June 1 to November 30.

"Prepare for Hurricane Season: Buy Flood Insurance Now" is the title on the FEMA website posted May 29, 2009. According to FEMA, floods are the most common hazard in the US, and most homeowners insurance doesn't cover flood damage. Everyone is at risk of flooding. Flood coverage is available in the form of a separate policy both from the National Flood Insurance Program (NFIP) and from a few private insurers.

A 2008 poll by the Insurance Information Institute found that only 17 percent of Americans have a flood insurance policy, ranging from 15 percent in the West to 17 percent in North Central States and the South to 20 percent in the Northeast

Congress created the NFIP in 1968. Communities that agree to adopt and enforce flood plan management ordinances to reduce future flood damage have federally backed flood insurance. Coverage is provided for up to $250,000 for the home and $100,000 for personal belongings.

On the FEMA website there is information about the National Flood Insurance Program, flood maps and a calculator to estimate premiums. They also link to FloodSmart.gov, the official site of the National Flood Insurance Program.

The Insurance Information Institute website has a down-loadable white paper regarding the National Flood Insurance Program.

Congress passed the National Flood Insurance Reform Act (SFHA) of 1994 lengthening the waiting period required before an NFIRA policy can go into effect. The waiting period is 30 days for a new or modified policy. Insurance companies sometimes will not bind insurance if there is a hurricane watch in effect anywhere.

Hurricanes cause wind damage as well. Typically homeowners insurance covers wind damage. However, during a hurricane there can be wind related damage to a window or door that results in flooding. According to the fine print, this type of flood damage might not be covered in the policy. Additional wind and hail coverage might be necessary.

For example the South Carolina Wind and Hail Underwriting Association has expanded the wind pool territory. Use their on line tool to determine property eligibility for coverage by the South Carolina Wind and Hail Underwriting Association.

Typically enough insurance is needed to rebuild the home and to replace all personal belongings. Speak to an insurance agent or company and have discussions regarding requirements as well as deductibles. Most coastal residents have percentage deductibles for storm damage rather than the traditional dollar deductibles that are used for other types of losses such as fire or burglary.

This hurricane season be informed and properly insured.

Learn more about this author, Constance Keasler.
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