In my last blog post, I explained how our licensed agents use their binding authority to provide instant insurance coverage for our clients in certain situations. When our area is subject to a Hurricane or Tropical Storm Watch or Warning however, things go the other way.
Because we are within 250 miles of a coastline, each year as hurricane season gets underway (June 1 to November 30) our insurance company partners (whose policies we sell) withdraw or suspend that authority any time the U.S. National Weather Service issues a Tropical or Hurricane Storm Watch or Warning.
That means if you happened to own an uninsured home, you would not be able to get any coverage if a storm warning or watch was in effect–and then maybe not until at least 48 hours AFTER that warning/watch expires. Likewise, if the storm warning causes you to review your existing home policy coverage and you conclude you may be underinsured, it’s the same deal–we will not be allowed to increase or change any coverages for you until after the storm passes.
The same is true of boats (whether on land or in the water) and even some vehicles. When you think about it, doesn’t it make some sense? Why would any insurance company willingly increase their overall exposure during a time of imminent threat? They wouldn’t–and they don’t. That is why it is so important for you–clients and prospective clients of Cheney Insurance–to better understand how some aspects of our business can work. Which I feel is just one more good reason to seek a Trusted Choice agent for all your business and personal insurance needs!
[QUESTION–What do you think happens to the home insurance coverage needed for a real estate closing scheduled to occur on a date that happens to coincide or conflict with a hurricane warning?]
Dennis H. Hilton, President