7 Must-Know Things About Home Insurance During Hurricane Season in Mexico

by West Coast Global Insurance West Coast Global Insurance

A hurricane is a violent, destructive storm that causes widespread devastation and may leave households with severe damage. Depending on where you are in Mexico, a hurricane can wreak havoc on an unfathomable scale. Having a Mexican home insurance policy can provide peace of mind and financial assistance to mitigate some of the losses and stress incurred because of a storm.

However, one should not wait until the storm is on its way. Homeowners must stay on top of their home insurance needs and maintainan appropriate plan. With that in mind, let us go over seven crucial factors that homeowners must consider during hurricane season:

1. Insurance is not Available if a Hurricane is Imminent

Because of the nature of potential losses during hurricane season, insurance companies try to mitigate their risks by having the right of refusal to issue new policies or last-minute hurricane endorsements.

The rule applies to all other insurance categories in Mexico, including auto, flood, home,and travelers insurance in Mexico.

Therefore, you must always maintain your policy to avoid paying for losses out of pocket, or you may be subject to the waiting period clause.

2. Home Insurance Covers Hurricane Damage

A hurricane is a tropical storm that falls under “hydro-meteorological” coverage.

All types of home insurance—including the landlord, renter, condominium, and homeowner's insurance—cover the associated damage. However, while homeowners receive the most extensive coverage, condominium owners might deal with several grey areas.

3. Hurricane Deductible May be Charged Additionally

Due to the storm-related damages, a hurricane deductible will be applicable from a claim resulting from a windstorm or hurricane in Mexico.

It is not a flat fee—instead, it is calculated based on the risk factor associated with the property. In hurricane-prone coastal areas, the deductible percentage will vary based on your properties distance from any body of water. Additionally, some Mexico home and condominium insurance policies provide deductible options to select from.

4. Flood Damage is not Included

A standard Mexico homeowners insurance policy does not cover water damage caused by a hurricane unless the flood damage peril is specifically covered.

Therefore, you should never presume that your insurance policy covers hurricane-related water damage. Catastrophic coverages can be included as per the insured’s request to insure the structure of your home and valuables against flood damage.

5. Additional Living Expenses and Extraordinary Expenses

Policies with additional living expenses clauses cover extraordinary expenses which will protect the insured if they are displaced from their home or condominium due to a covered peril.

6. Is your Property Protected with HVHZ Storm Shutters on ALL the Openings?

HVHZ Storm Shutters are hands down the BEST way to protect your home or condominium against the wrath of a strong hurricane or windstorm in Mexico. Flying debris &intense winds bring water whipping through the air.

If your property meets the necessary hurricane protection standards, a discount can be provided on the premium chargeable on the policy. There is no need for mitigation inspections either, however in the event of a claim, be prepared to show proof your property was equipped with this high standard storm protection barriers.

7. Keeping Records Helps with Reimbursements

Mexico Homeowners are compensated for damages that are covered by their insurance policy. To help speed up the claim reimbursement process, be sure to keep records of EVERYTHING. We always recommend to our clients to take pictures & video, so you can easily show before & after. Insurance carriers in Mexico will request copied of receipts and or invoices to show proof of value.

This content is solely for informational purposes. For professional advice on what one must do to protect their property in the event a hurricane strikes in Mexico, contact West Coast Global Insurance at (818) 788-5353 and understand the benefits of why Hurricane Coverage should not be overlooked when purchasing your Mexico home & condo insurance policy.