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Understanding Wind & Hail Insurance Deductibles for Your Home

November 18, 2024

Swaying trees in the wind

Homeowners Insurance Coverage: When Are Hail and Wind Damage Covered?

Standard homeowners’ insurance generally covers hail and wind damage to your home, including the roof, siding and other structures like garages or sheds. Coverage can also extend to interior damage caused by compromised roofing or walls. This means that if a storm causes a tree to fall on your home or other structures on your property, your insurance may cover the damages.

Moreover, for homeowners who are forced to temporarily relocate as a result of storm damage, there is Additional Living Expenses (ALE). This coverage is available to help offset expenses from hotel, food and transportation costs.

Great. So, When Isn’t Hail Damage Covered?

Policies may have wind and hail exclusions, especially in high-risk areas. In some cases, wind and hail deductibles are separate and set as a percentage of your home’s insured value, often ranging from 1% to 5%.

If your policy has limited or no hail/wind coverage, consider:

  • A separate wind and hail policy
  • Adding wind/hail coverage to your current policy as an endorsement

Understanding Deductibles

Before coverage applies, you must pay the deductible outlined in your policy. Wind and hail coverage often have separate, higher deductibles, especially in high-risk areas. Here are key points to keep in mind:

  • Percentage-based Deductibles: Wind and hail deductibles are often a percentage of your home’s insured value. For example, a 1% deductible on a $250,000 policy would require you to pay $2,500 before insurance covers the remaining repair costs.
  • Dollar-based Deductibles: Some policies apply a specific dollar amount instead of a percentage. For example, a $500 deductible means $500 is subtracted from any claim payout.

Check your policy to understand whether wind and hail damage falls under a standard or percentage-based deductible, as the latter may be as high as 5% of your insured value.

Managing Deductibles

Raising your deductible may lower your premium, but make sure it aligns with the amount you are prepared to pay out of pocket. Generally, insurers offer minimum deductibles starting at $500 or $1,000; increasing this amount can reduce premium costs. However, remember that most homeowner deductibles apply each time you file a claim.

Preventing Hail Damage

While hail and windstorms are unavoidable, you can take steps to reduce damage:

  • Roof Upgrades: Inspect your roof regularly and consider impact-resistant materials.
  • Tree Care: Trim or remove unstable trees near your home.
  • Vehicle and Outdoor Items: Park vehicles in covered areas and secure or store patio furniture to prevent damage during storms.

In Summary

Review your policy with your Robertson Ryan Insurance Agent to understand deductible specifics and coverage limits. In case of hail or wind damage, knowing what you’ll need to pay out of pocket and why can help you make informed decisions on coverage and claims.

For more questions, concerns or to speak with an agent, please contact us here.