Wind can be one the most destructive forces of nature. High winds can cause severe weather conditions in the United States, including tornadoes, thunderstorms, and hurricanes. It is crucial to have the right insurance coverage in place to protect your financial security in case your home is damaged by windstorms.
Windstorm insurance is coverage that many homeowners insurance policies include, or can be added as an endorsement to a policy. For windstorm coverage, you may need separate policies. Windstorms are a very common weather phenomenon, so homeowners need to be familiar with how windstorm insurance works.
What is windstorm insurance?
Windstorm insurance covers damage to your home from high winds. These can cause damage to roofs, sidings, gutters and soffits. Many homeowners insurance policies include wind coverage, which can be added to your policy.
If you live in high-risk areas, you might need to have a separate policy for windstorm events. You might want to confirm whether wind damage is covered by homeowners’ insurance policies for coastal areas or other areas susceptible to hurricanes.
Some policies also include an exclusion for “named storms”. While general wind damage may be covered, damage caused by a storm that has been named, such as hurricanes or tropical storms, would not be. Named storms will require separate coverage if your policy excludes them.
When and how to buy windstorm insurance
Talking to an agent if you have homeowners insurance can help you find out if wind damage is automatically covered or if you can add it by endorsement. You will need to find a separate policy if neither of these options is available.
There are many options available to purchase windstorm insurance. In Florida, for example, where there is high hurricane risk, windstorm insurance can be purchased from the Citizens Property Insurance Corporation. The Texas Windstorm Insurance Association is a source of windstorm coverage in Texas. In Texas, wind damage can occur from tornadoes or hurricanes.
Many insurance companies have restrictions regarding when you can buy windstorm insurance. Insurance moratoriums are often imposed by many insurers 24 to 48 hours prior to a major hurricane or another significant weather event. These moratoriums prohibit the company selling policies to the area within the timeframe. This is done to stop people buying insurance right before a disaster occurs and then canceling after the storm passes. It may be safer to have windstorm insurance in place before an impending weather event.
What is the cost of windstorm insurance?
The price of underlying homeowners insurance will often determine the cost of windstorm insurance. The average premium per year for home insurance is $1.477. This is for homeowners insurance policies with $250,000. Your homeowners insurance premium will likely increase if you add a windstorm endorsement. Sometimes, windstorm coverage will be added to an existing homeowners policy. This deductible is usually higher than the underlying homeowners policy.
The cost of windstorm insurance depends on many factors. These include the age of your house, rebuilding costs, likelihood of damage to your area, and whether you have taken damage-mitigating measures such as hurricane shutters.
Windstorm insurance can be costly, especially if you live near an area that is vulnerable to severe weather events. Rates for wind insurance in states that are at risk from these storms can vary depending on the history of storm damage. In general, homes built on the coast are more costly to insure than those constructed in areas inland. To compare prices and coverages, it is important to discuss all options with your agent.
Windstorm insurance claims
Windstorms can cause severe damage. approximately forty homeowners will file a hail- or wind-related insurance claim every year. You may file a homeowners’ insurance claim to get the repair costs covered if your home is damaged by windstorms. Here’s how to file a successful claim.
- Reexamine your policy. Check your deductible on every applicable policy and rider. Ask your carrier when and how these will be paid. Check your policy carefully to see what coverage is available and what exclusions are included. This can help you be prepared for the claims process in case of a storm.
- Filing your claim promptly: After a storm, inspect your property to determine if there are any damages and then file your insurance claim. Many insurance companies permit policyholders to file claims over the phone. You may also be able file online or via an app.
- Keep track of your storm damage: Create a timeline that shows the events leading up to, during, and after the storm. Keep documentation of your damage, including photographs and receipts for emergency repairs.
- You can schedule repairs. Keep the receipt in case you need immediate repairs, such as a tarp being placed on your roof to protect it from further damage. Schedule the final work, but wait for authorization from your claim handler before you schedule any work.
- Ask questions: Talk to your claim processor or agent if you have questions about the claim process.
It can be stressful to have a damaged house. However, homeowners insurance will help you restore it to its original condition.
Questions frequently asked
Is wind damage covered by my homeowners policy?
In most cases, homeowners insurance will cover wind damage. To get wind damage coverage, you might need to add an endorsement or purchase a separate policy. Even if wind damage coverage is provided by your policy, you may need to add an endorsement or pay a higher windstorm deductible. It may be worthwhile to speak with your insurance company about how your homeowners insurance covers damage.
How can you protect your home against storm damage?
Windstorm damage can be prevented by taking preventative measures. Clear away lawn furniture, garden tools, and other outdoor items from your home. These items can become projectiles that could cause damage to your home and neighbor’s homes. It is important to trim your trees so they don’t overhang your roof. Homeowners can also consider storm shutters as a mitigation option.
