Insurance expert: review policies now — hurricane deductibles, loss‑assessment and flood timing matter

Chris Banker, president of Patriot Insurance Agency and an attorney, told the forum that insurance planning is a critical but often overlooked part of hurricane preparedness.

Banker reviewed common coverages for the local mix of single‑family homes, condominium units (HO‑6) and master association policies. He warned that replacement cost and actual cash value treatments differ significantly and recommended unit owners confirm coordination with any master policy covering the building. "Replacement cost is, of course, replacing something with like kind and quality," he said, contrasting it with depreciated actual cash value payouts.

Banker said Florida's hurricane deductibles usually take effect when the National Weather Service issues a hurricane warning for any part of Florida and typically remain in force through 72 hours after the last watch or warning is terminated. He also urged condo unit owners to check loss‑assessment coverage: Florida law requires association policies include a baseline (the speaker cited a $2,000 minimum) and owners can buy higher limits to cover association assessments after a loss; however a master‑deductible clause can limit reimbursement for assessments tied to the association's deductible.

On flood insurance, Banker reminded attendees that FEMA defines flood and that a separate flood policy generally has a 30‑day waiting period before coverage is effective — so buy well before an imminent storm. He advised residents to document homes and possessions by photo or video and to file claims promptly; he noted that, as of 2025, timely notice rules in Florida can bar claims unless filed within one year of the loss unless supplemental.