‘It was devastating’: Texas grandmother’s insurance coverage lapsed just before her home was destroyed by a fallen tree during Hurricane Beryl — here’s her warning for others

Starting over on her own

Yankey found out that since she had taken the house down to the studs, she needed a policy called builder’s risk insurance. This type of policy protects buildings under construction from property damage caused by fire, lightning, explosions, theft, and hurricanes.

She called several insurers but was unable to secure a policy for the property.

“It’s always the same thing — when it goes to underwriters, they say they won’t insure it. And I said, ‘Well, am I the first person that’s ever remodeled a house in poor condition?’” Yankey says.

With no other options, she raced to finish the renovation so she could purchase a traditional homeowners policy. On July 7, just one week away from completing the upgrades, Hurricane Beryl knocked down the trees that then destroyed her new home and garage.

After spending her life savings to renovate the house, Yankey has had to start over from scratch.

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Protect yourself and your home

Yankey hopes by sharing her story she can help prevent others from facing the same situation. Fortunately, there are several steps you can take to protect yourself.

First, make sure your insurance agent understands your plans to remodel or renovate and be clear about when you plan to move into the home. Had Yankey known to tell her insurance agent about her plans, she may have realized she needed different coverage before renovations began.

After you start a new home insurance policy, wait at least 30 days to begin renovations. This gives your insurance company time to thoroughly review your policy so you don't get a surprise cancellation in the middle of construction.

Finally, regularly review your insurance policies to make sure your coverage aligns with your current situation. For example, after making updates or additions to your home, you may need to update your insurance valuation. Taking these steps will provide additional peace of mind and limit the risk of insurance lapses.