Will my Coverage Pay for Damages Caused By a Hurricane?

Most homeowners insurance companies cover losses that are directly related to hurricanes. These monster storms pack high winds that can damage roofs and windows, as well as hail that can damage your dwelling. Although most policies do cover hurricane damages, the extent of the coverage varies, so you might want to purchase additional riders if you are particularly concerned about this type of storm damage. At the same time, the exact kind of coverage varies depending on the state you live in, so it is important to check with the company about all of the details of your policy before purchasing homeowners insurance.

Policy Specifics

A basic house insurance policy serves two primary purposes: to cover the costs of rebuilding or repairing a dwelling, as well as the expenses associated with replacing the owner's personal property within the structure. Keep in mind that if you are renting out your home, your policy is not responsible for your renter's belongings--they need their own insurance. This type of insurance is designed to protect you against catastrophic events that can leave you in a position in which you need to rebuild or significantly repair your home.

Hurricanes are just one of the examples of natural events that a homeowners insurance policy covers. These storms are unpredictable, and no matter how much you prepare your home against its wrath, a hurricane still has the potential to cause significant damage. For this reason, most policies cover hurricanes.

With that being said, the type of coverage that a policy offers varies by company. In other words, one company might offer minimal hurricane coverage, while another provider may offer more at a less cost. It is important that you read the particulars of a potential policy carefully so that you fully understand the coverage in which you are signing up for. In some cases, a company might not offer any hurricane coverage at all, but they can add a rider to your policy at an additional cost.

Another consideration is the amount of deductible that is associated with your policy for all hurricane-related claims. Depending on the policy, you might pay a higher deductible for hurricane damages than you would for another type of repair. This is due to the fact that these storms are generally more significant in terms of damages, than an average thunderstorm. If a high deductible concerns you, then you might have the option of paying more towards your premiums so that you can have a more affordable deductible.

It is important to keep in mind that most companies that offer hurricane protection do not offer flood coverage, even if it is related to flooding rains or storm surge. As a precaution, you will want to obtain additional flood insurance, especially if you live along the coast or another body of water. In some cases, your mortgage company might require that you purchase a flood rider along with basic house insurance.

Regional Variations

Although hurricanes strike from the coast, the damaging effects can go into inland areas, causing high winds and flooding waters. Still, there are variations in terms of coverage based on the region you live in. Some states that are more prone to hurricanes require that homeowners obtain some sort of storm coverage, so there might be more options from providers in such areas. If you are still paying a mortgage, you will want to check with the bank to see what is required of you in terms of home insurance. Some banks require extra protection in certain regions of the country.

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