1. Buy the right policies

There is no one insurance policy that will cover all types of hurricane damage. Most homeowner's insurance policies, for example, do not cover flood damage, so if you want coverage, you'll need flood insurance.

Don't wait until there's a storm on the horizon: A new flood insurance policy can take up to 30 days to take effect.

If your mortgage lender doesn't require it and your home isn't in a "special flood hazard area," the Federal Emergency Management Agency's term for high-risk flood zones, you might not think you need flood insurance. However, Camille Garcia, director of communications and public affairs at the Insurance Council of Texas, believes it is still worth considering. She points out that the majority of the homes that flooded in Texas during Hurricane Harvey were not in high-risk flood zones.

Wind is another common cause of hurricane damage. While most standard homeowners policies cover wind damage, it may be expressly excluded in some areas of the country, according to Joe Meisinger, Travelers' chief underwriting officer and head of national products for personal insurance. You may need a separate windstorm policy in these primarily coastal areas.

Finally, don't forget about your automobile. Comprehensive insurance, an optional coverage type, is required to cover flood damage. Check your declarations page or check with your agent to see if you have it.

2. Check your coverage limits

“So many of us have sheltered at home [and] done a lot of DIY projects in the last year,” Garcia says. “Make sure that your agent is aware of that,” if this is you. She explains that if you've made significant improvements to your home, you may need to increase your policy limits to be fully covered.

Another reason you may require more coverage is that it may now be more expensive to repair or rebuild your home than it was when you purchased the policy. “The cost of labor and lumber... has increased significantly because we are in this housing frenzy right now,” Garcia says. Furthermore, if a hurricane devastates a specific region, this can result in even higher local costs due to the high demand for contractors and materials.

In order to ensure that your dwelling coverage is adequate to rebuild your home, inquire with your insurer about extended replacement coverage. If rebuilding costs more than expected, your insurer will pay a set amount above your dwelling limit under this optional add-on.

“I consider it a security blanket,” Meisinger says. “If something happens and you don't get a calculation 100% correct, it adds an extra layer of security.”

3. Evaluate your deductibles

A hurricane claim may cost significantly more than other claims for some homeowners.

“If you live in a hurricane-prone area, you might have to pay a separate hurricane deductible out of pocket,” says Jessica Hanna, senior vice president of public affairs at the American Property Casualty Insurance Association, an industry trade group

According to Meisinger, these separate deductibles may apply to hurricanes, named storms, or wind and may be a fixed dollar amount or a percentage of your dwelling coverage.

Assume your policy has a $250,000 dwelling coverage limit and a 2% hurricane deductible. Before your insurance company would pay out on a hurricane-related claim, you would be responsible for the first $5,000 in damage.

Keep in mind that multiple deductibles may apply to storm damage. “Say the wind blew off your roof, but you also have... flooding in your home,” Garcia explains. You'd need to file two claims: one with your homeowners or windstorm insurer and one with your flood insurance provider. That means you'll have to pay both deductibles.

Raising deductibles can help you save money on premiums, but it can backfire if you don't have enough cash to cover the deductibles in an emergency.

4. Make a home inventory

Imagine returning home after a hurricane to find a heap of rubble. Would you remember every kitchen gadget or pair of shoes that needs to be replaced if you filed a claim?

Make a home inventory ahead of time to save yourself time and trouble.

“Use your smartphone to take pictures and videos of your belongings, such as your furniture, appliances, clothes, jewelry, and art,” Hanna advises. She suggests transferring the files to a cloud storage device for easy access.

Do not, under any circumstances, wait until the last minute to prepare for a hurricane. Garcia believes that “preparation is key to everything” when it comes to protecting your home, family, and finances.