Your homeowners insurance is designed to protect you against devastating expense if your home or personal property is damaged. Storm damage is one of the most common claims and siding and roofing are frequently involved. Understanding how your insurance policy protects you and what your responsibilities are is key to having peace of mind when the worst happens.
Your homeowners policy
Typical policies cover your home and most structures on your property, including a garage, shed, fence, driveways, and decks. This includes all storm damage and damage caused by fire. Personal property inside the home or other structures also is covered, although there may be limits on high value items, and items used for a home-based business generally are not covered.
What you should know:
- Expensive jewelry, artwork and family heirlooms may require additional coverage specific to these items, as do any items used for a home-based business.
- Ask your agent whether your coverage is for replacement cost or fair market value and which is right for you and your family.
- Most standard policies cover expenses for you and your family should your home be uninhabitable.
- Your policy will have a deductible for which you are responsible before your insurance pays for a loss. Be sure you understand what your out-of-pocket cost will be for a claim and have emergency funding available should your home be damaged.
Natural disasters
A standard homeowners policy will cover a range of disasters, including thunderstorms and lightning strikes, hail, and high wind. In the event of a fire, your policy will cover fire and smoke damage and water damage related to putting the fire out. Damage related to earth movement, however, is usually excluded.
What you should know:
- Damage to your home or property caused by sinking, shifting or expanding earth beneath your property is typically not covered by standard insurance regardless of the cause.
- Special coverage is available if you live in an area prone to earthquakes, mudslides, erosion, or mine subsidence.
- Damage caused by a falling tree is covered by YOUR insurance even it is your neighbor’s tree.
Flooding
It is probably the most misunderstood coverage sought by homeowners and among the most needed. If your home is damaged by a leaking water pipe, an overflowing toilet or some other interior problem in your home or garage, your standard homeowners policy will cover it. Flood damage caused by overwhelmed sewers, rising rivers or creeks, or a breached dam is not. Unfortunately, this is the kind of flood damage that often arises during storms.
What you should know:
- Flood insurance is available for those living in areas prone to rising water or sewer back up during heavy rain, and in some cases it is required that homeowners purchase it when they arrange for a mortgage.
- Check your basement and install sump pumps and check valves to prevent sewer backup.
- Talk to neighbors and city officials to learn more about road and sewer conditions in your community before making a decision about flood insurance.
If your Akron area home or property has been damaged by a storm, wind, hail or falling objects, contact Dan Faith Construction today or click here for information about roofing, siding and window repairs and replacement, as well as storm damage restoration.