If you have a mortgage on your home, you are required to have hurricane insurance coverage. This is a special type of property-casualty insurance that protects policyholders from property damage caused by hurricanes, that are considered vis major and so might be excluded from standard homeowners insurance policies. Hurricane insurance is usually offered in the form of a rider on a standard casualty insurance policy through the extended coverage endorsement.
Zephyr policies only offer coverage for the peril of windstorm during a hurricane.
The coverage begins when a hurricane watch or warning is issued by the Central Pacific Hurricane Center of the National Weather Service for the island where the insured property is located and continues for the duration of the hurricane and ends 72 hours after the watch or warning is canceled.
Zephyr’s policy offers the following coverage for your Hawaii residence:
- Coverage A – Dwelling Building
- Coverage B – Other Structures
- Coverage C – Personal Property
- Coverage D – Loss of Use / Fair Market Rent
Additional coverage includes Debris Removal, Reasonable Repairs (cost incurred for necessary repairs to protect covered property from further damage), Collapse (direct physical loss to covered property), Property Removed (direct physical loss while removed from insured location) and Ordinance or Law coverage (up to 10% of the limit of liability that applies to Coverage A for the increased costs you incur due to enforcement of any ordinance or law).
The Zephyr policy provides for replacement cost coverage on buildings and structures under Coverage A and Coverage B subject to coinsurance. For an additional premium, Zephyr also offers optional coverage endorsements such as Personal Property Replacement Cost (includes coverage for major appliances that are not in a fully enclosed building), Economic Demand Surge and Ordinance or Law (additional Limits). Available rate credits include Wind Resistive Devices, Uniform Building Code Credits, Loyalty Credits and Deductibles. Options for deductibles range from 1% – 5%. Credits are available on 3% or higher.
Zephyr strives to provide competitive rates. They are reviewed and approved by the State of Hawaii Insurance Division to assure financial soundness.