When it comes to insurance, there are many elements involved: what can be covered, whether you’re covered at all, the legal parameters for insurance coverage in your state, and so on often go unsaid. So it can be confusing and stressful to find financial help with something as serious as storm damage, and that’s understandable. However, insurance for storm damage may not be what you think.
What Is Wind Insurance and What Does It Cover?
Storm insurance is another word for wind insurance, which is a peril covered by your homeowners' insurance. Wind insurance could have many names but essentially covers hurricanes, windstorms, and hailstorms under two types of deductibles.
When calculating the deductible, wind insurance can be based on a percentage of your dwelling amount. Some homeowners policies will only trigger the percentage deductible if a hurricane makes landfall in your state so be sure to carefully read the details of your specific policy.
Ultimately, your homeowners’ insurance might help cover certain aspects of storm damage with the inclusion of wind insurance, most of which may fall under the following possible coverage options:
· Hurricane damage
· Windstorm damage
· Hail damage
· Snow damage (due to wind)
Knowing what’s covered and what’s not under your insurance provider could be simple to look into but can suddenly become difficult. As a homeowner, you should reach out to your local insurance agent to help you determine what is covered and what is not.
The beauty of homeowners insurance is that it helps reinforce safety and security, the main benefit of an investment that every homeowner deserves.