How strong is your homeowners’ policy?
Having homeowners’ insurance is important, but knowing what that covers is crucial. With inclement weather popping up at a moment’s notice, the policy must include areas you may not think you need. For instance, you may live in an area that requires flood insurance. Did you know that’s an extra policy? Even with a policy in place, there are certain things it does not cover.
Another gray area where homeowners don’t really focus on is wind and hurricane coverage. Contrary to popular belief, a hurricane or wind storm can affect any state. If you’ve been affected and don’t think you have a specific wind/hurricane policy, it’s best to review your current policy to see if there are accommodations in place.
What is wind and hurricane insurance?
A hurricane policy usually applies when a home sustains damage from winds associated with tropical storms, hurricanes, tornadoes or other storms. In most cases, this policy will not cover flood damage. A windstorm is generally covered by homeowners’ insurance, but there is a chance the policy will exclude coverage for wind damage. The dwelling’s coverage may help pay for repairs if the roof, siding or windows are damaged.
How will I know if my policy covers wind damage or a hurricane?
It’s important to ask all the right questions when evaluating your policy. Make a list of possible scenarios to discuss with your insurance agent. Understanding what you need may be a little challenging, but it’s better to ask the questions that will help make educated decisions. This will help put the right policy in place now instead of wishing you’d had it in the event you need it later.
It’s important to note that hurricane coverage varies state by state. In some states, wind and hurricane insurance is mandatory, but there are discounts available when wind resistant features are added to the home to enhance protection. The cost also varies based on the amount of insurance required, and the deductible. Hurricane deductibles are separate from the standard homeowners’ insurance deductible based on a percentage of the home’s value.
Getting the right coverage and type of insurance is key. For more information, consult with your agent at Dimmitt Insurance today.