Hurricane Damage Coverage: What You Need to Know

Hurricane Damage Coverage: What You Need to Know

When a hurricane suddenly hits your area, you’ll be prioritizing you and your family’s protection above all else. But when the storm passes, and it’s time to assess the damage, will your insurance cover all the damages? What you’re unaware of in your policy could hurt you, which is why it’s imperative to be fully aware of your coverage before any storm moves towards your area.

Your Insurance Covers Four Main Categories

A standard homeowners policy provides protection for the following:

1. Your dwelling, which is the structure of the home

2. Detached units like a shed or detached garage

3. Personal property, including your belongings

4. Living expenses if you’re displaced

The limit for personal property is generally a percentage of the insured amount of the dwelling. In fact, according to the Insurance Information Institute (III), many insurers provide personal property coverage of around 50% to 70% of the home’s insured value. This means you can tweak your policy and talk with your insurance agent if you need more (or less) coverage. Of course, the more coverage you add to your policy, the more you’ll have to pay.

Understanding your coverage for living expenses is also important because you might be displaced for a long time after a major storm. This coverage pays your living expenses while your hired roofing and exterior contractor fixes the damage on your home, for instance.

Flood Insurance Is Usually Purchased Separately

Did you know that flooding is generally not covered by a standard homeowners insurance policy, even if it’s from a hurricane? If you live in a federal flood zone, and you have a mortgage, you likely had to purchase flood insurance through the National Flood Insurance Program (NFIP) when you bought your home.

According to the Federal Emergency Management Agency (FEMA), the federal program provides up to $250,000 in dwelling coverage and $100,000 in personal property coverage. But if your home’s value exceeds the NFIP limit, your lender may require you to purchase additional flood coverage from a private insurer, even if it’s not required by the federal government in a lower-risk area.

When it comes to trustworthy roof repair, Superior Roofing is your best choice in the area. You can reach us at (334) 298-5253, or you can fill out our convenient contact form for a free estimate! We serve Phenix City and nearby areas.