As Hurricane Milton approaches, Canadians with Florida real estate should know: National

Many Canadians are flocking to Florida as the cold weather approaches, but with Hurricane Milton barreling toward the state as a Category 5 storm – although it is expected to make landfall as a Category 4 storm – some could head north at the border worry about property they own in the south.

The latest National Association of Realtors survey found that Canadians topped the list of foreign buyers in Florida at 13 percent and that more than half a million Canadians own property in the state.

But if a hurricane hits, they may have a harder time getting help after the fact.

According to the US Federal Emergency Management Agency, only US citizens, non-citizens such as Americans from American Samoa or qualified non-citizens – people with a green card, people entitled to asylum or refugees are among those affected Category can receive disaster assistance.

Given the limits of disaster relief, here's what property owners like snowbirds can do to best protect their property and what to do after the storm passes.

According to the Canadian Snowbird Association's online guide, trimming or removing damaged trees and branches, securing gutters and clearing clogged areas or debris, and upgrading your roof, windows and doors can help limit potential damage.

The association's online guide also advises people to keep important financial and legal information available at all times, take stock of their personal assets, check their insurance and keep all receipts for temporary living expenses in case they are needed for future claims.

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Sonia Bolduc, vice president of business development at NatBank, a Canadian National Bank subsidiary in Florida, said mortgage lenders often require storm insurance in addition to regular insurance when buying a home in the state.

However, there are also additional insurance options because the damage that property owners face may not only be due to wind or rain.

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“There is additional insurance they can take out if they are in a flood zone. You can also get flood insurance,” she said. “So if you get the whole package, your property will at least be well protected from financial burdens.”

This storm insurance is often provided by Citizens Property Insurance Corporation (CPIC), a government insurer, as part of general home insurance, although there are some private companies that also offer insurance.

Mark Friedlander, communications director for the Insurance Information Institute in the US, told Global News that getting flood insurance is also a smart decision because it is not part of your existing home insurance policy.

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Grants are typically made through the National Federal Insurance Program. These policies are limited to $250,000 for damage to the home and $100,000 for damage to the homeowner's property – private insurers may be able to cover slightly more – but it is important to have such insurance.

“To be fully financially protected from disasters like hurricanes and other severe storms, you need both property insurance and flood insurance,” he said.

Friedlander notes that only 20 percent of Florida homeowners have flood insurance.

He said some don't realize it's not part of their home insurance policy, while others decide to take the risk.

However, Friedlander said if you purchase your insurance through the CPIC, you may need to purchase separate flood insurance – all policyholders will be required to do so starting in 2027.

For those concerned, insurance restrictions could be imminent. He added that if you own a property in Florida, you can purchase property and flood insurance.

Once the storm passes, Friedlander recommends filing a lawsuit as quickly as possible. However, because you may be in Canada during the storm, you have up to a year under Florida state law to file a lawsuit. However, the quicker you do this, the quicker you can make repairs to your property.

Since Canadians can only stay in the U.S. for six months in a 12-month period, this could cause difficulties. For this reason, Bolduc said to look for potential third-party contractors who may be able to visit your home to verify.

Friedlander added that another alternative is to have a neighbor check and photograph the situation.

“If you can take advantage of this service, it is a great peace of mind for you,” Bolduc said.

The CSA recommends taking photographs of property damage to make it easier to file a claim, and contacting your insurer before signing any contracts with anyone doing repairs and making sure they have a business license in the state and are self-insured .

Friedlander cautions that if you value your insurance to replace or repair your property or property, make sure you purchased it before the storm, and early.

There is a moratorium in Florida that prevents the purchase or addition of insurance – at least from the state, private insurers may vary – for 30 days after a storm watch or warning is issued.

He also said that people can apply for insurance once the storm has passed to obtain future coverage, but should not attempt to file a claim for damages caused.

“It's considered fraud if you try to make a claim for something that wasn't covered before your policy went into effect,” Friedlander said.

&Copy 2024 Global News, a division of Corus Entertainment Inc.