Among the most common claims on homeowners insurance policies are roofing and siding damage from wind and hail. Fortunately, this type of damage is covered on standard insurance policies, but it is still wise to look over your coverage and understand limitations and deductibles.
Your deductible
When you purchased your insurance coverage you made a decision on what your deductible would be—that is, the amount you would pay out of pocket before your insurance pays out for a loss. The lower your monthly premium, the higher the deductible, so double check that figure to be sure you have enough money in your emergency savings to cover that amount should something happen.
Coverage for storm damage like that caused by wind or hail also may have a percentage deductible that generally ranges from 1% to 10%. This figure is calculated based on the value for which you are covered—if your coverage is $300,000 on your home and the storm damage deductible is 1%, you would be responsible for $3,000 of your claim.
Limitations of your storm damage coverage
With the exception of out of pocket deductibles, you can usually rely on reimbursement for storm damage to your roof, siding, windows or gutters. If storm damage is caused by rising water, however, you may not be covered.
It’s not usual for a storm to cause flash flooding, rising rivers or creeks, and overwhelmed storm and sanitary sewers. Unfortunately, this type of storm damage is not covered by standard homeowners insurance, but requires coverage specific to flooding. If you live in an area that is prone to rising water or sewer backup during storms, ask your agent about purchasing flood insurance to be sure you are covered.
Ohio storms can cause significant damage to your home and property. If you have experienced storm damage to your home, garage or shed, or you are concerned that your siding or roof shingles have been compromised by hail, don’t wait to get an estimate. At Total Exterior Systems, our experts work with all insurance companies and can help you navigate limitations and deductibles. Contact our office or click here for more information on how we can help with inspections, insurance claims and repairs.