Hurricane Insurance Claims

5 Replies

Hi, I’m a newish real estate investor and both or my SFH properties are located in Panama City, Florida. One property has half a roof and is probably a total loss and the other has bad roof damage and the sunroom was blown off. I’m getting ready to deal with the insurance claims process and was looking for any recommended reads or tips. Can lost rental income be recovered? Any other advice?

If you have the rental loss provision included in your policy, then yes.  Not an insurance issue, but for either one, if the damage is more than 50% of value, but Not a tear down rebuild, you may run into issues about bringing it to current of the things that can screw you is if the Current floor elevation requirement is higher than existing, you’re stuck if it’s a slab home since there is no way to raise it without tearing down and rebuilding.  If you have replacement value, you hope they cover to tear down and rebuild....not sure how that affects your rent loss provision though.

I’ve found the insurance co.s to be fairly generous in hurricane damage, but many will recommend you hire your own public adjuster.


Here are some of the things I would recommend:

1. Contact your agent/company to get the claim in.  In a Catastrophe situation, Insurance companies get swamped with claims.  Often the claims are handled on a first in first out so the earlier you get in the line the better.

2. Gather up the policies and review them.  Look up the terms to get familiar with what they are covering.

3. Line up a contractor

4. look into a public adjuster- (see what the percentage they charge and see if any are recommended

Hurricanes seem to be coming at our U.S. Coast every year. Does anyone know if a Public Adjuster can be hired in Texas.  


rental income be recovered? Any other advice?

Loss Rental income Must be on your Declarations page.

Most have a Max amount of Loss. i.e. 5 months of rent.

@Bo Edmond Sorry to hear you lost a home to the hurricane I also have a rental in Panama City I was very fortunate that I didn’t get an extensive amount of damage to the house but I am going to need a new roof put on. My tenant is still living in the house and has power and water back now. I was really nervous because I just moved out of this house and didn’t know if it would matter to my insurance that I was renting it out but they asked no questions and I didn’t volunteer.

All, I appreciate the feedback. I did hire a public adjuster and my policy does have a lost rental provision. The claim is in but we’re still waiting on the field adjuster to come out.