You can supplement your existing homeowners insurance with windstorm insurance. This kind of policy, which is also sometimes referred to as hurricane insurance, protects you in the event that a severe windstorm, hailstorm, or hurricane causes damage to your home.1 Mortgage lenders typically make it a condition of the loan for property owners who live in particular locations, such as along the U.S. Gulf Coast or in particular coastal states.
Keep in mind that not all natural disasters and risks are covered by standard homeowners insurance policies. Hurricane, windstorm, and flood insurance may require additional coverage depending on where you live. You can also choose to add earthquake coverage, but it is not required by law2. Windstorm insurance covers damage caused by wind events. When an included peril causes damage to your home, you must file a claim with your insurance company to begin the reimbursement process. Take video and photo evidence of the damage before you file the claim. Additionally, you must include evidence of the storm; therefore, gather official news sources that confirm the information. Be sure to file a claim as soon as possible because claims may have a time limit.
In most cases, hurricane and windstorm deductibles are included in windstorm insurance policies. Another option is a named-storm deductible. The kind of storm that damaged your home determines the kind of deductible you pay. Hurricane deductibles, for instance, typically cover damage caused by a named storm. You can get help navigating the differences with your insurance agent.
Note: Windstorm insurance deductibles are typically calculated as a percentage of your home’s total insured value, regardless of the kind of storm. You for the most part get to choose a rate between 1% to 10% for your deductible, in spite of the fact that your insurance agency might have different procedures.3
