Hurricane season is a time of uncertainty for property owners, especially those who own valuable historic properties. When a hurricane hits, the strong winds, rain and floods can do extensive damage to any building. However, because of their age and relative fragility, historic buildings can be particularly vulnerable. For this reason, property owners need to be proactive.
To help you prepare for the remainder of the hurricane season, below are some lessons we've learned from past storms.
1. Hurricanes can cause widespread damage.
As a property owner, you need to be prepared for the possibility of hurricane damage even if you don't live in an area that has been hit before. These storms are growing larger as the weather changes. In fact, Hurricane Harvey was responsible for damage in six states.
2. Planning is a wise investment.
Planning for inclement weather, such as hurricanes, can save property owners a great deal of money. For example, an assisted living facility in the United Kingdom was able to minimize losses during Cyclone Xavier in 2013 by installing flood defenses and developing a flood emergency and contingency plan before the storm ever came. If you own property that is at risk of damage from hurricanes or other storms, follow this example by taking the time to reinforce vulnerable areas and develop a plan for minimizing damage in the event of a storm.
3. Insurance coverage speeds recovery.
Even when you prepare as well as you can, damage from a hurricane is always a possibility. Having the proper insurance coverage will help you recover faster in the event of a severe storm. Without the right coverage, you will be forced to pay for repairs and rebuilding out-of-pocket, which can be financially crippling. When you have insurance, however, you will have almost immediate access to the funds and support you need to begin the recovery process.
Keep in mind that basic insurance policies may not provide the coverage you need. To be fully protected, you need a policy that protects against all potential hazards related to storms, including flooding, sewage backups and fires.
National Trust Insurance Services is proud to offer comprehensive insurance coverage options for historic properties. If you are concerned about the possibility of hurricane damage, we can help you protect your investment with the best insurance policies for your needs. Please contact us today to learn more about our products and services.