Welcome to your complete start to finish guide to Yokahu.
What is Yokahu?
Yokahu is a brand new insurance service. You pay a premium to us and in return when a hurricane happens we send you money to help with your immediate financial needs.
Ok, so how does it work?
Before you buy from us, we will show you a range of products we sell in your country.
These will pay you different fixed amounts depending on the category of the hurricane, and have an applicable premium.
You are free to choose whichever product you feel is right for you, and once you have done you can pay online using your debit/credit card.
Why do you need my location?
Once you have chosen your product we will ask you to drop a pin on a map to tell us where you live. We use this location to determine whether you receive a payment. To receive a payment you must be in the hurricane strength winds (74mph+) and we check this location against the weather data to confirm this.
Why am I being asked to provide my ID and proof of address?
We will also ask you to provide a photo of a government issued ID. A drivers licence or a passport would be perfect. And in addition we need to have a photo of a utility bill to confirm your address. We use this to check you are who you say you are and that you do live in the country you are buying a policy for. This is because we are required to know who we are selling to by regulators and we are not dealing with you face to face.
You don't need to provide these documents until after you have purchased a product. However if we cannot verify your identity within 14 days then we will have to cancel your policy and refund you. We will send you reminders.
After you have purchased and confirmed your identity you will get an email confirming your policy details.
Payout direct to your bank account
Once you have signed up there is one more step we ask you perform. Using the same name as you signed up to us with, please ensure you enter your bank account details on our secure portal. This allows us to pay you any pre-agreed amounts to you as they become due. You can do this by visiting the Yokahu website and logging in to your account.
Anything else to note?
Yes. When you first buy from us there is a 14 day period where the policy will not pay. This is because our insurance partners will not pay for a Hurricane that you already know will hit you when you buy.
What happens when there is a hurricane?
When there is a hurricane we request the wind speed at your location from our independent weather data providers. If they tell us you experienced hurricane strength winds (74mph+) we then ask for the pressure at the centre of the Hurricane. The air pressure determines what category the hurricane is on our scale.
We then check what payment we agreed we would make to you for this category and if there is a payment due then we send the money automatically.
If you have previously entered your bank details to our secure portal, we will SMS you to let you know the money has been sent. It may take a short time for the funds to arrive in your bank account, depending on your country and your bank's processing time.
If you have not yet entered your bank details to our secure portal and you are you will be send reminders by both SMS and email asking you to enter your bank details before the funds can be released. Once we have your bank details the funds will be sent in the above way.
The Policyholder’s name should be the same as the account holder’s name for the Bank account used to receive your Pre-Agreed Payout. If these differ there may be a delay in payment of the claim.