Just because you have home insurance doesn’t necessarily mean you’re protected against all kinds of natural disasters. The roofing contractors at Halo Roofing Inc. list some of the other things you need to know about hurricane damage below.
You’ll Need to Pay a Deductible Annually
Not many homeowners know this: they’ll have to pay a deductible or a percentage of the amount they’re insured every year. Deductibles for wind and hail damage usually range from one to five percent.
What a Standard Insurance Policy Covers
A standard insurance policy covers the structure of your home, its detached units, like a shed or a detached garage, your personal belongings and living expenses while your home is being repaired. In most cases, insurers will only pay for about 50 to 70% of the insured amount for your property.
What It Doesn’t Cover
Most policies don’t cover flooding—you’ll have to purchase a separate policy for that. If you took out a mortgage to purchase a home in a federal flood zone, you most likely had to buy flood insurance through the National Flood Insurance Program or NFIP. The program insures your house for up to $250,000 and your belongings for up to $100,000.
Listed below are other natural disasters not usually covered by standard policies:
Earthquakes – Most insurers in Florida don’t cover earthquakes, landslides, or sinkholes. However, they will cover your home if it becomes uninhabitable due to catastrophic ground cover collapse.
Sewer back-up – You’ll need to purchase a separate policy for this.
Damage due to lack of maintenance – Failure to properly maintain your home might even void your policy.
Navigating the process for claims processing can get confusing. If you’re having trouble, some roofers offer assistance with processing your claims.
Looking for qualified contractors in your area?