While coverage will vary depending on your specific policy, most homeowners insurance policies will cover a variety of damages caused by a storm. It’s important to know whether your home is covered in the event of a natural disaster, so read on to find out which damages are included in your policy and which ones are not!
Homeowners insurance policies usually cover damages caused by storms with heavy winds including tornadoes and hurricanes, but some exclusions may apply; if you live in a state where windstorms are common, your insurance provider may require you to purchase a separate policy in order to receive compensation for damages of this kind.
Furthermore, many policies include a wind deductible which is more than your standard deductible and is typically a percentage of your Dwelling Limit. For example, if the Dwelling Limit on your policy is $500,000 and you have a 1% wind deductible, then you are responsible for the first $5,000 of a wind claim. If you have a 2% wind deductible in that example, you are responsible for the first $10,000. Unfortunately, many clients are not aware of this when a claim occurs.
Your best bet is to check with your insurance agent to make sure you know the specifics of your policy. For example, what is your deductible on wind damage? Are there any exclusions on your policy? What is the limit of your wind coverage? If you’re not sure what the answers are to these questions, take a moment to brush up on your policy’s information with your agent so that you don’t run into any surprises.
Lightning strikes and any fires caused by lightning strikes are covered under a standard insurance policy. Furthermore, if you’re forced to evacuate your home and seek temporary living arrangements such as a hotel as a result of lightning, your homeowners policy can reimburse you for those costs.
Damages to your home as a result of a lightning strike hitting your property can be extremely expensive, especially if they cause a power surge, fire, or explosion. Luckily, it isn’t terribly difficult to prove that the event happened as the aftermath of a lightning bolt hitting the ground is pretty evident. Remember to check your homeowners insurance policy to verify your deductible and limits in case they need to be adjusted.
Flood damages are not covered under a homeowners insurance policy. If you live in an area that’s prone to flooding, you’ll absolutely want to ask your insurance agent about purchasing a separate flood policy. 90% of natural disasters in the U.S. involve flooding and the costs of these damages can be debilitating. In contrast, flood insurance policies are relatively inexpensive at an annual premium of about $700.
Even if you live in an area like Philadelphia, Pennsylvania that is not known for experiencing floods, taking out a policy is a good idea regardless. You never know when a flood is going to come your way.
Here are a few important notes about homeowners insurance and fallen trees:
- If a tree falls but doesn’t hit anything, there’s no coverage. When a tree falls in your yard and does not land on anything, there is no coverage for removal of the tree. Unfortunately, the tree must hit the house or another structure on the property, such as a shed or fence, to trigger coverage under a homeowners policy.
- If your neighbor’s tree falls on your house or in your yard, it is your responsibility. If your neighbor wants to be really nice, they can cover your deductible. However, it will be your policy that pays anything over and above the deductible. Everything from the previous bullet-point still applies.
- If a tree falls on your car, damage to your vehicle will be covered by your auto insurance company subject to your comprehensive deductible. The cost to remove the tree is a gray area and will likely depend on the location of the incident. If it happens at your home, it is likely that you are going to cover the majority (if not all) of the cost to remove the tree from your vehicle.
Call Risk Averse Insurance in Media, PA to discuss a homeowners insurance policy for your property.
Risk Averse Insurance is an independent insurance agency in Delaware County that specializes in providing high-quality insurance products at an affordable price.