Does Home Insurance Cover Storm Damage?
Does Home Insurance Cover Storm Damage?
Many homeowners are asking "Does my home insurance cover hurricane damages?" as hurricane season approaches.
Standard homeowner policies cover the structure of your home. You can increase the dwelling coverage limit by purchasing endorsements such as guaranteed replacement cost coverage.
Most home insurance policies also cover your personal belongings. This coverage is typically limited to a certain percentage of the dwelling coverage limit.
Wind and Hail Damage
Some homeowners' insurance policies cover damage caused by hail and wind, but not all. You may need to purchase a separate policy or add an endorsement to your existing homeowners policy if you live in an area prone to hurricanes.
In general, the limit of dwelling coverage in a standard homeowner's policy will pay to repair or replace a damaged house, less any deductibles. This is also true of "other structures", which includes things like fences and sheds.
Windstorm insurance is a good option for homeowners who live in an area prone to severe storms such as hurricanes. It will cover the costs of damages to your roof, fencing, windows, and vehicles. You may be able to get coverage for the removal and replacement of debris that has been blown by wind. However, these policies usually have a higher deductible than standard homeowners' insurance. These policies tend to exclude damages from flooding.
Flood Damage
Hurricanes can cause water damage and flooding. Flood damage can usually be covered by an additional flood insurance policy. This is available through the National Flood Insurance Program, or from a private insurer that specializes in homeowners insurance. Water damage caused by other causes, such as a leaking roof, is covered under the comprehensive section of a standard homeowners insurance policy.
If you live in an area that is prone to hurricanes your home insurance policy may have a hurricane deductible which is higher than the normal home insurance deductible. If this is the situation, you should check your home insurance page.
Some policies cover debris removal in addition to the perils that are listed on a homeowners' insurance policy. The cost of removing trees, branches and any other debris from your property following a hurricane is covered. You can add this coverage to your policy if it is not included in the original policy.
Debris Removal
When calculating the property damage caused by a natural catastrophe, debris removal is often forgotten. Many insurance companies include automatic coverage extensions in their property policies because they recognize the importance of cleaning up debris. Insurance companies vary in the amount they automatically include. It does not usually exceed the limits for building and contents.
Check the policy's debris removal section carefully. Some insurance companies may not cover debris removal, while others only provide a small percentage of the property damage limits.
Keep detailed documentation on the exterior and interior of your house. The claims process will be easier if you keep detailed documentation. Document any renovations or repairs you've done to your property. This documentation can be used as proof if an insurer disputes or denies a claim.
Replacement Cost
You may be able to buy an extended replacement policy depending on your insurer. This add-on increases the dwelling coverage by a certain percentage over your current policy's Coverage B value. It helps protect you from rising construction costs.
In areas prone to hurricanes your homeowners' insurance may also include a hurricane or named-storm deductible, in addition to your standard home insurance. These deductibles can range from 1% up to 5% of the dwelling coverage. These deductibles are meant to protect insurers from large catastrophic losses, and keep them out of bankruptcy after they pay multiple claims within a short time period. In the coverage section on your policy declaration, you'll see specifics regarding when hurricane deductibles are applicable. If your property is damaged and there's flooding as a result of a named storm, you should purchase flood insurance.
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Orlando Construction Companies
Does Home Insurance Cover Storm Damage? Many homeowners are asking "Does my home insurance cover hurricane damages?" as hurricane season approaches. Standard homeowner policies cover the structure of your home. You can increase the dwelling coverage limit by purchasing endorsements such as guaranteed replacement cost coverage. Most home insurance policies also cover your personal belongings.…