With all the destruction left behind from Hurricanes this season, homeowners may be wondering if their insurance rates are going to increase.
Insurance Commissioner Mike Chaney said homeowners in Mississippi will not see a rate hike.
“The hurricanes that we’ve had, Harvey and Irma, and even the one that’s in the Gulf that hit Puerto Rico, Maria, will not affect the homeowner insurance rates in the state of Mississippi,” Chaney said.
He said overall rates should remain steady.
“Generally speaking, the hurricanes will not affect the homeowner rates in Mississippi unless we have a direct hit,” Chaney said.
Chaney added that mother nature is unpredictable, so make sure you’re covered just in case.
“The immediate thing that you should do today is check your homeowner policy to see if you have flood insurance,” Chaney said.
According to Chaney, most people think they have flood insurance, but they have to learn the hard way that they don’t.
“You have to buy flood insurance policies separately from your homeowner’s insurance,” Chaney said.
It’s important to remember that a homeowner’s policy generally doesn’t cover all types of flooding.
“A homeowner’s policy will normally cover a busted pipe in your house and it will cover rainwater that may fall through a roof, but if it’s due to rising water, you’re not covered unless you have flood insurance,” Chaney said.