What Does Your Insurance Really Cover?

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In a recent discussion with one of our clients, I learned something about homeowners insurance that I believe is well worth mentioning. Some years ago a hurricane came barreling through the home town where our client used to live. Her homeowners insurance had hurricane coverage but by the time the storm came in her area it had been downgraded to a tropical storm. Guess what? Her insurance did not have coverage for tropical storms. Now isn't that a kick in the head? To the best of my knowledge, FEMA did step in and help with the damages they suffered. And did they ever suffer - several feet of water in the basement. So here is the lesson and a suggestion - if you have insurance, whether it's home, auto, health or any other coverage, be sure you know what it does and does not cover. Ask the agent about terminology; tropical storms, hurricanes, and whether the terms make a difference or not. Insurance can be tricky business. Be sure you are covered.