Warren Buffett once said: “someone is sitting in the shade today, because someone planted a tree years ago.”

You and your family can be sitting in the shade after one of the storms of life if you’re properly covered. You should ask yourself the following three questions today.

Number 1: What’s your deductible?

Number 2: Are you covered for wind? Some people are, some people are not, and it is crucial to know exactly what your policy does, and does not do.

Number 3: What about Flood? Do you have coverage in the event that rising water destroys or damages your home? A lot of people don’t, because it’s not always a requirement.

We are a coastal agency, which means we have seen many years of hurricanes, and the claims associated with them. Hurricane Season officially begins on June 1st, and this year, we have already had three named storms. Every year, we live with the renewed threat of a devastating hurricane visiting the Lowcountry. Sadly, by the time a storm has our city in the crosshairs, it is too late. We can’t give you coverage once the storm is already on its way. That’s why right now, you need to make sure you’re protected before the wind starts blowing.

Let’s work through the questions above in a little more detail.

First of all, what is your deductible? It is important to know this detail of your policy, so you’ll know if you’re prepared to pay that in the event of a claim. Now you have to ask yourself: “do I have the ability to meet that payment?” If the answer is no, maybe you should look at a policy with a lower deductible, which would make that payment easier. If you see that number and think, “that’s it? That’s no problem” you might even want to consider a higher deductible. Policies with higher deductibles, generally mean lower premiums. It is up to you to decide what kind of deductible you’re comfortable with. If you’re not sure, that’s a great time to consult with an expert insurance agent who can help lay it out in plain English, and find a policy that fits you. Insurance is not one size fits all. It varies for everyone, because we’re all different. We all have unique needs, situations and finances.

Secondly, what about wind coverage? Most policies do cover wind damage, however, some policies, for homes on or near the beach in most cases, it is specifically excluded. So if the wind blows your roof off, or blows a tree or a power pole down onto your home, the damage would not be covered if your policy does not cover wind damage. In this case, a separate wind and hail policy, is the solution to protect you where you’re exposed to risk from wind.

The last issue is flood insurance. This is the easiest question. Your homeowner’s policy doesn’t cover flooding. If you don’t have flood insurance, you should. Floods are very destructive and where we live, very possible with even a category one hurricane. If you don’t live in a very high risk flood area, there’s a good chance your mortgage lender doesn’t require you to carry flood insurance they way they do homeowners insurance. It is critical that you know your policy, and know what you’re covered for and what you’re not. If you don’t you could be taking risks you aren’t even aware of. But a short conversation with an insurance agent can help you identify and eliminate those risks, and possibly even save you money monthly, in addition to protecting your biggest investment, your home. We advise everyone to speak regularly with their insurance agent, so you can rest easy, sitting in the shade, even when the wind blows.