Hurricanes, tornadoes, and hailstorms don’t only affect homes in disaster-prone areas. Hurricanes can wreak havoc on any home, anywhere. Sadly, over 14.5 million American homes were damaged in 2021.
If you don’t have the money to fix the damage, how will you make ends meet? Thankfully, you have a home insurance policy. But, does home insurance cover hurricane damage?
In this article, we’ll share what you need to know about insurance, natural disasters, and the types of coverage available.
Types of Home Insurance Coverage
There are many types of home insurance coverage, and each one offers different protection. The most common types of coverage are dwelling coverage, personal property coverage, liability coverage, and medical payments coverage.
Dwelling coverage protects your home and any attached structures, such as a garage or deck. Personal property coverage protects your belongings in the event of a covered disaster, such as a fire or theft.
Liability coverage protects you from lawsuits if someone is injured on your property. Medical payments coverage pays for the medical expenses of anyone who is injured on your property.
When you are choosing a home insurance policy, make sure to understand the different types of coverage and what they protect. That way, you can be sure you are getting the protection you need.
Does Home Insurance Cover Hurricane Damage?
Home insurance policies vary and it’s important to read your policy carefully to know what is and isn’t covered. In general, home insurance does not cover damage caused by floods, earthquakes, or sinkholes.
Hurricane damage is typically only covered if it is specifically listed in your policy. In most agents, this coverage is sold as a separate rider. If you’re concerned about this, talk to your insurance agent about how to prepare for a potential hurricane damage claim.
Importance of Hurricane Damage Coverage in Your Home Insurance Policy
Your home is one of your most important investments, so it’s important to have the right insurance coverage in place in the event of a hurricane. Hurricanes are some of the most powerful and destructive natural disasters that can occur. They can damage or destroy homes, businesses, and infrastructure.
If you live in an area that is prone to hurricanes, it’s important to make sure that you have adequate home insurance coverage. Otherwise, you could be left with a huge financial burden.
Most home insurance policies provide some coverage for hurricane damage. You may also need to purchase additional coverage, such as windstorm insurance, to fully protect yourself.
What Homeowners Need to Know About Home Insurance
Your home insurance policy has limits on how much it will pay out for certain items. So, if you have high-value items, like jewelry or art, you’ll need to purchase additional coverage to insure them fully.
You also need to be aware of your deductible. This is the amount you’ll have to pay out-of-pocket before your insurance policy takes effect. The higher your deductible, the lower your premium will be. But, you need to make sure you can afford your deductible if you do have to make a claim.
Be Sure You Have the Right Coverage in Place
Contact your agent to discuss if your home insurance covers hurricane damage. Make sure to review your policy annually to ensure you have the coverage you need.
In the meantime, please browse through some of the other articles on our blog. We’re confident you’ll find them as useful, informative, and enlightening as this one.