Hurricanes come but when they go they usually leave devastation in their paths, so to help home and property owners prepare, two insurance managers, David Crowhurst, Executive Vice President of Property and Casualty and John Doherty, Vice President of Property and Casualty of the Argus Group answered some common questions on insurance and hurricanes

What kind of coverage would you recommend that homeowners get for the hurricane season?

All homeowners should have a home insurance policy in place at all times that is renewed annually and with premium payments kept up-to-date. The standard Argus Home Policy covers a wide array of risks to which homeowners are exposed, including fire and lightning, hurricane, flooding and storm surge, for buildings, home contents and other personal possessions. Argus policies offer a good standard of protection.

When do you need to buy cover?

Even outside the Hurricane season Bermuda is exposed to potentially damaging tropical storms so homeowners should be on the ball with their insurance protection year round. With changing weather patterns, the occurrence of storms becomes less predictable or seasonal, and winter storms and tornadoes should not be overlooked either.

Therefore, homeowners are advised to take precautions all year round to safeguard their property. Don't wait until after a major storm is forecast to hit the island as it may be difficult to buy insurance at the eleventh hour! Insurers provide advice to their policy-holders on hurricanes, including preparations and what to do before, during and after a hurricane visits Bermuda.

These recommendations are very important and invaluable help to ensure the health and safety of people and property.

Is there special coverage for hurricane damage i.e. should they get coverage for flood damage as well?

The standard Argus Home Insurance Policy covers hurricane damage as well as possible other consequences such as damage from falling trees and flooding so no further coverage should be needed.

If you are not insured with Argus make sure you speak with your insurer to clarify what is included in your existing policy.

How does a homeowner assess the amount of coverage that they will need?

It is vital that policyholders ensure that the amount of coverage is sufficient should a major loss or damage occur.

The amount insured for the buildings should reflect the full rebuilding cost and for contents, the replacement cost. If necessary, homeowners should obtain further advice to ensure the values are correct.

Argus provides guidance in the assessment of values for buildings based on the size (square footage) and characteristics of individual properties. This is done through a visit to the property at no cost to customers.

What else would you like to add?

With the potential in Bermuda for significant hurricane damage, such as was experienced during Hurricane Fabian in 2003, insurers themselves are prepared for a significant increase in claims.

The Argus Group has a catastrophe claims plan, which will 'kick in' if a major hurricane is experienced. This is designed to help our policyholders cope with losses and making claims. After Hurricane Fabian, Argus established an enviable reputation for prompt and fair claims settlement.

Argus has been insuring Bermudians for more than 50 years and helping customers to rebuild and repair their homes and property after every hurricane.