Your Title Insurance & Severe Weather Threats
The Sunshine State is famous for its great weather, beautiful landscape, and carefree lifestyle. We don’t have earthquakes, but we do have hurricanes. What role does title to your home play when disasters like this threaten?
Florida’s Atlantic hurricane season runs into November. Along with it can come flooding, tornadoes, and other threats. The chances of your home being hit in any given storm may be small, but they are there. In September 2016 Florida was flanked by two strong tropical storms; one on the east coast and one on the west coast. It’s a strong reminder to be prepared.
Get Title Insurance Before You’re In ‘The Box’
Once a hurricane gets close it’s called “being in the box.” At this point insurance underwriters won’t write new insurance policies. It’s the same for hazard and title insurance. So if you need to increase your insurance policy coverage or get a new policy for a home purchase or refinance, get it done early and close fast.
Title & Your Liability
Together with your survey, your title plays out which parts of the property you are covered for, and are responsible for. You need to make sure nothing on your property is a hazard which could be turned into a weapon or wrecking tool by high winds.
Keeping Your Deed & Title Insurance Policy Safe
Your deed and title policy are documents you definitely want to have secured in case of fire, storm, wind, flood, or sinkhole damage to your Florida home, or in case you have to evacuate. Keeping them in a portable, fireproof, and waterproof safe can be a good start. Make sure you have multiple copies too. Putting them in the ‘cloud’ so they are always accessible is a smart move.
Make sure you have contact numbers and email addresses for your title insurance agent too. This should go along with your home owners insurance policy and contact information, and your attorney’s info.
Summary
Florida property owners enjoy one of the best climates and landscapes in the world. Fortunately disasters are few, and building codes have continually worked to keep up. Still, every ounce of preparation is worth it. Regularly check your policies, ensure premiums are covered, have a plan to put into play for protect your property before and after a storm, and keep your documents secure.
Have you been through any of our famous Florida hurricanes? What strategies have you used to protect your property, what tips did you find most valuable?
