For those who live along the Atlantic and Gulf Coasts, the potential for losing a home due to hurricanes is just a part of life. While some find out too late, more and more people understand these days that you need both homeowner’s insurance and flood insurance to protect yourself from the multi-faceted damage these horrific storms can produce.
Recent developments with the tragic BP oil spill have led to a host of interesting new questions amongst Gulf Coast homeowners. Many want to know what our insurance policies will cover. We also want to know who is responsible for the rest. Is BP liable? Do we simply lose out if our homes and property are damaged by oil? A hurricane or tropical storm blowing oil inland is a very real possibility, threatening residents not only on the beach, but throughout the coastal area.
Let’s take a look at what would happen and who would be liable if a Gulf storm caused damage to our homes or property by blowing oil ashore:
For those living on the Gulf Coast, especially the areas that are being hardest hit with this disaster, it might be a good idea to contact your agent now, before a hurricane rolls in, to see what we are (and aren’t) covered for. The last thing we want is to face the aftermath of a disaster and find out that our homeowner’s insurance didn’t cover everything we thought it did.
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