What Does Windstorm and Hail Insurance Cover?

If you live in a coastal region, your home is at risk of hurricane damage.  Your home is important to you and likely you have home owner’s insurance.  But is it insured for windstorm and hail?  How about flooding?  It is important to know what your policy covers.

Windstorm insurance does not cover flooding.Homeowners’ insurance may not cover windstorm, hail or flooding.  It is important to know the risks of the area you live.  For instance, when a hurricane comes, if it doesn’t blow a hole in the wall or rip off part of your roof, you may not be covered for water damage.  Hurricanes bring a tidal surge with them which is labeled flooding by the insurance companies.  If you don’t have flood insurance, you might just be trying to figure out how to pay for an uninhabitable home.

If you live in Texas, you may download a sample of the Texas Windstorm and Hail policy.  Variables are deductibles, premiums, and payout.  Read through the policy to determine what other types of insurance you will need.  Remember, when you file a claim, your property will be “depreciated” by the insurance company.  In other words, you will never get enough money to make life normal again.

The amount of coverage you buy is important too.  Insuring for less than 80% the total value of the property will trigger another depreciation clause on the dwelling.  But, as with all insurance policies, they will never pay out more than the total dollar amount for which you paid premiums.

The policy is very clear on which events it will and will not pay claims.  The policy premium must be paid more than 30 days before the storm to be in effect when a hurricane makes landfall in your neck of the woods.  Keep in mind that policies change from year to year, so you need to evaluate your coverage yearly.  If you don’t understand the policy, ask a licensed insurance agent.

Edit:  Changed “. . . does not cover windstorm . . . ” to read “. . . may not cover windstorm . . .”

Edit:  Changed “. . . you are not be covered . . ” to read ” . . .you may not be covered . . .”

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