Hurricane Season in Florida is June 1 to November 30
You might think that weather hazards and title insurance are mutually exclusive however what happens outside your home can have an impact on your ability to buy, sell or refinance property and closings can be delayed. You can take steps during hurricane season to minimize the impact a storm can have on your ability to close on-time. As soon as we receive notification about any interruption in our service, we will proactively contact our customers and Realtors® using combination of email, phone calls and automated messages to keep you up-to-date on our operations.
BE SURE TO OBTAIN YOUR HOMEOWNERS INSURANCE BEFORE HURRICANE SEASON
Don’t get stuck in “The Box” refers to the “Hurricane Box.” From the beginning of Hurricane Season, June 1st, through the end of Hurricane Season, November 30th, it will be difficult, if not impossible, to buy certain insurance coverage for the peril of Windstorm or Hurricane damage (as well as other insurance coverage). If a named Tropical Storm or Hurricane enters an approximately 16,000 sq. mile box extending over Florida and the adjacent states and well into the Atlantic Ocean, then the insurance companies will suspend binding coverage. This occurrence is also referred to as “The Storm is in the Box.”
Each insurance company may have their own definition of “The Box.” One thing is for sure, if you live in Florida or you are about to buy a house during Hurricane Season, you are inside “The Box.”
Note: The restriction also applies when a tropical storm or hurricane watch or warning has been issued by the National Hurricane Center.
Action Steps to Avoid the “Hurricane” Box:
If you are purchasing a new home or revising your existing Homeowners Insurance, then it is essential to avoid “The Box.” Simply put, insurance companies do not want to extend homeowners insurance to you immediately before a hurricane (and expose themselves to the risk of loss due to hurricane damage). The rules are fairly technical and we suggest that you discuss the exact details with your property and casualty insurance agent before you attempt a real estate closing in “The Box.”
The Closing Agent has a “Business Continuity Plan” to address concerns before, during and after the storm. We have multiple offices and a redundant back-up operations center outside of Florida. Our website, social media, phone greeting, on hold recording, and emails will alert you to any changes in our business processes that could impact you and your transaction.
If you don’t have your own personal Hurricane Preparedness Plan in place. please check out this emergency preparedness website from the National Hurricane Center for assistance.
If you need assistance, call 407-425-2400.