Report: Cost keeps many from preparing for hurricane season, insurance experts focus on key steps

TAMPA, Fla. – A new insurance industry report from Guardian Service highlights one of the biggest challenges homeowners face ahead of the height of hurricane season. Thirty percent of homeowners say costs are keeping them from preparing for hurricane season.

What they’re saying

Former Florida Deputy Insurance Commissioner Lisa Miller says there are still key steps homeowners can take without breaking the bank.

Miller recommends starting with the basics: Your roof, windows and, most importantly, your insurance coverage.

On the front page of your homeowner’s insurance policy, there’s a section that shows your Coverage A amount. That’s the maximum payout you’d receive to rebuild your home.

“If your Coverage A amount is $300,000, ask a contractor, ‘Can I rebuild my home for that?’” she said. “Inflation has driven costs way up. A sheet of plywood that cost nine dollars four years ago is now $25.”

If your home costs more to rebuild than your policy allows, Miller urges you to update your coverage, especially as federal disaster aid becomes less certain.

“The federal government is looking at cutting back on what they spend, not providing more,” she added.

Why you should care

Another top recommendation is flood insurance, even if you’re not in a designated flood zone.

“If you’re spending five-hundred dollars a year, that’s about sixty dollars a month,” Miller said. “Skip a few meals out, a car wash, or that extra chocolate cake. Whatever your budget looks like, try to find sixty to one-hundred dollars a month to buy flood insurance.”

Miller emphasized that while you can update your property insurance at any time — even during hurricane season — flood insurance typically takes 30 days to go into effect, so don’t wait until a storm is named to get it.

Support and Help

Organizations like the Community Development Corporation of Tampa are working to help families most impacted by past storms. Their data shows that neighborhoods already struggling with hunger, housing shortages, and unemployment suffered the greatest damage from hurricanes Helene and Milton last year.

To assist, the Red Cross recently announced a one million dollar grant to establish Disaster Recovery Centers in East Tampa and St. Petersburg.

“Education over anything,” said Dr. Chamain Moss-Torres, COO of the CDC of Tampa. “They’ll be able to use that education to prepare, recover, and find places to go after the storm to get the support that they need.”