In August of 2017, Hurricane Harvey unleashed its wrath on one of Texas’ largest cities. A category 4 storm, Harvey showed no discrimination in its destruction; any home in its path was swept up in the fury: small, big, new, old, just renovated, etc.

The immediate aftermath was focused on rescuing people and pets from the wreckage, but as time went by the long term problems that arose created a different kind of chaos.

Insurance companies saw the flood (no pun intended) of home insurance claims. Many people that had not previously considered the small print in their home insurance policies, were now much more aware of the details.

So how has this changed the industry and the way people think about their insurance? Let’s examine.

The Role of Home Insurance

If you’re a new homeowner, chances are you searched for months, visited dozens of homes, viewed countless listings, and finally came across the perfect home. As a new homeowner, it’s hard not to get carried away with all the new possibilities and excitement of finally walking into a property that is your own.

One of the less discussed aspects of this very exhilarating endeavor is the reality of home insurance. The people of Houston were given a very handy lesson on the importance of such coverage after the storm. The storm resulted in nearly 670,000 in combined personal and commercial property insurance claims. This obviously put a lot of strain on the insurance companies and saw many people scrambling to get what they could out of their policy.

The storm was quite unprecedented in its scope and reach and many people affected by the storm were not part of the floodplain and were thus uninsured and had to depend on local and federal aid.

Things to Keep in Mind When Shopping Around

Hurricane Harvey took everyone by surprise, but there are mechanisms in place to protect homeowners from such disasters. Any mortgage lender will require the purchase of home insurance in order to secure their loan.

There are plenty of things that can go wrong with a home—whether it is an older home or a new one—and protecting that investment is important for you.

There are several aspects when looking for the right home coverage, however. We thought we’d take a look at some of the key things to consider.

Don’t focus solely on the price tag.

We all do it. As soon as we’re shopping around for something we make the price tag our first and most important criteria. You want to make sure that the policy has important coverages and that it is not leaving you exposed to an important risk. This means taking certain factors into consideration including where you live and the risks for certain types of damage.

Understand the exclusions in your policy.

Homeowners’ insurance is designed to protect you from large destruction events, even semi-major disaster events, but it is not exactly a warranty policy. Filing a claim for a broken water heater might not be a good idea and therefore it is important to understand what is covered and not covered in your policy.

Don’t assume certain coverages.

Many people affected by the floods of Hurricane Harvey figured out too late that their home insurance policy did not include flood insurance. Flood insurance might be separate, so make sure to ask questions about certain types of natural disaster coverage.

Be careful not to underinsure your home.

Depending on the value of your home and how much you owe, you want to pay attention to how a policy will affect you in case of total loss.

How Insurance Companies Step in During Catastrophe

Insurance companies are often seen as villains and compassion-less entities that prey on the money of the innocent. The truth is, insurance companies are there to back you up in dark times. During Hurricane Harvey, insurance companies were there to help people who needed to file claims for their damaged homes. Many insurance companies went above and beyond by donating extra to business owners or charities that helped the rescue effort and relief.

The hard lessons of Harvey have been learned. There is not much humankind can do against the mighty power of nature. A natural disaster is not easy on any community, but as it turns out, the people of Texas have a resilience that is—we like to say—unmatched. We have a fighting spirit, as it is told by our state history.

Have the Advantage With the Right Policy

Advantage Insurance policy offers a variety of home insurance policies. Talk to one of our Progressive representatives today and we’ll walk you through your different options and discuss the best one for you.