In protecting your home against natural disasters, it’s not enough to have homeowners insurance. It’s also important to have a clear understanding of your policy’s coverage.
Remodeling and roof replacement expert Triangle Home Exteriors lists some of the things you should know about storm damage coverage.
Hurricane Deductible
Find out if your policy has separate deductibles for hurricanes. Hurricane and wind or hail deductibles are usually 1-5% of the insured value of your home’s structure. These are paid annually and not by an event.
Flood Insurance
Flooding is generally not included in a standard homeowner’s insurance policy. So if you live in a federal flood zone and you have a mortgage, you may need to purchase flood insurance through the National Flood Insurance Program (NFIP). The program provides up to $250,000 in dwelling coverage and $100,000 in personal property coverage.
If you’re unsure whether your area is subject to flooding, consult local home exterior remodeling companies, insurers and other experts. Just to be on the safe side, you might want to buy flood insurance too.
Exclusions
Pay attention to the exclusions of your policy. Typically, standard homeowner’s insurance does not cover floods, earthquakes, maintenance damage and sewer backup. Read and understand your policy so that you’ll know if you have to purchase additional coverage for other risks.
Special Coverage for Renters and Condo Owners
If you are a renter, your landlord has likely insured the building. However, you will need to get your own insurance for your possessions. If you live in a condo, your association is able to cover certain areas. Find out what these are and check your contract. This will help you determine what type of policy you’ll need to purchase.
Whether you’re looking for roofers or siding contractors, you can count on Triangle Home Exteriors to get the job done professionally. Call us at (919) 615-1101 or fill out our contact form to request a free consultation. We serve customers in Durham, NC, and nearby areas.
