There is no such thing as a hurricane policy for a commercial property. Instead, owners must hobble together several coverage options to protect against the wrath of a hurricane - and the damage it can cause.

Most of the damage from a hurricane is caused by the wind and rain. Property damage caused by a hurricane generally falls under windstorm coverage in a typical commercial property insurance policy. If you have flood coverage, then coverage could apply to floods from hurricanes - but only if your policy specifies that as a cause.

One area that is often overlooked is the sublimit provision within a policy. Property insurance would likely cover damage to the building caused by wind and possibly by flood, but it would only partially cover the cost of replacing things such as landscaping or debris removal. Many owners don't realize they may have limits on these costs for cleaning up after a hurricane. If you increase your limits, most likely you would pay higher premiums.

Another limitation in most policies is coverage after a hurricane hits. Continuing rain can cause tremendous damage for hours and even days after the hurricane passes, but many policies state that the owner must protect the property from further damage, and only damage caused by the immediate impact of the hurricane would be covered. Temporary repairs may or may not be covered - depending on your policy. One tricky area is if mold forms as a result of post-hurricane rain. In order to collect on mold claims, you would have to prove that the mold damage was directly linked to the hurricane.

In the event of a power outage during a hurricane or damage that makes part or all of the building inoperable by tenants, property insurance won't necessarily cover loss of rents or revenue. One option is to buy separate coverage for utility service interruption.

Windstorm and flood insurance generally have separate deductibles, with windstorm deductibles almost always being higher. How deductibles are applied can be very confusing. In some cases, there may be very little wind damage to your property, but you get flooded. You would think the flood deductible would apply. But in many cases, insurers apply the higher, and more costly, windstorm deductible, even if there was more damage caused by flooding.

If your building is in an area that has a high probability for hurricanes, you may want to review your coverage. SS&C's property management software, SKYLINE gives you the record keeping tools you need to be a strong negotiator during your insurance renewal process. Historical data can be quickly retrieved to analyze coverage and premium costs. SKYLINE also maintains detailed rent records to help you recover any loss of revenue you might have as a result of your building being inoperable due to hurricane damage or power outages. In addition, you can really benefit from SKYLINE's fully integrated work order management system, SKYLINE Facilities Maintenance to keep track of all temporary and permanent repairs, so you can submit an accurate record of costs you incurred for cleaning up hurricane damage.