Is It Covered? – Named Storm
If your investor clients have properties in coastal locations, it might not always be clear if they have coverage when a tropical storm or hurricane passes through. Damage may occur because of the force of winds, rain driven by those winds, storm surge, and flooding. Some carriers get very specific about separating these coverages versus covering damage occurring in one storm event under the Named Storm peril.
Three Types of Coverage Triggered by Windstorms
The 2022 Atlantic hurricane season (officially beginning June 1), is predicted to be another active one calling for 19 named storms. This increase continues the trends from 2020 and 2021 of above average activity. If your investor clients own Atlantic coastal properties, now is the critical time to be sure they have the appropriate coverage they need should one or more of these forecasted storms strike.