What Homeowners Should Know About Wind and Hail Deductibles
Are you prepared for the real cost of storm damage? Many homeowners know they have home insurance, but they may not know how much they would need to pay out of pocket before their policy starts helping after a wind or hail claim. That is why understanding what homeowners should know about wind and hail deductibles can make such a difference before the next storm rolls in.
Storm damage can happen quickly. A hailstorm or strong wind event can damage exterior parts of your home. When that happens, your deductible is one of the first things you need to understand.
What Is a Wind and Hail Deductible?
A wind and hail deductible is the amount you are responsible for paying before your home insurance policy starts helping with covered storm damage. In many cases, this deductible is separate from your standard home insurance deductible.
This deductible may apply to damage like:
- Roof replacement
- Solar panels
- Siding and exterior damage
For homeowners in and near Plano, TX, storms can bring expensive damage quickly. A strong storm can affect the outside of your home, and if you are not sure what your deductible is, the cost can come as a surprise.
Talking with an insurance agent can help you understand what your current policy includes, how your deductible works, and what you may be responsible for after a claim.
Why Does the Percentage Matter?
The percentage matters because a wind and hail deductible is often based on the insured value of your home, not the cost of the repair itself.
Over the last several years, many insurance carriers have raised deductibles. Today, a 2% or 3% wind and hail deductible has become standard on many home insurance policies.
For example, if your home is insured for $350,000, a 2% deductible is $7,000. A 3% deductible is $10,500. That is money you would need to pay out of pocket before your home insurance policy pays anything toward covered wind or hail damage.
Is There a Way to Help Cover Your Deductible?
The good news is that there may be a way to protect your savings.
Trusted Insurance Partners LLC. now offers a standalone policy that helps cover your wind and hail deductible. In many cases, deductible coverage up to $10,000 may be available for around $75 per month. Coverage amounts are also available up to $25,000.
This type of policy can give homeowners more confidence when storms roll in. Instead of worrying about writing a $7,000 or $10,500 check after a storm, you may be able to put coverage in place ahead of time.
The claims process is also designed to be simple. Once you file the claim, the company verifies that a severe storm occurred using National Weather Service data and can initiate a direct deposit. There is no paperwork and no inspection. A claim on this wind and hail policy also does not impact the pricing of your home insurance.
Review Your Deductible Before the Next Storm
Wind and hail damage can happen quickly, and the cost can catch homeowners off guard. Before the next storm rolls in, it is worth reviewing your deductible and understanding what you may be responsible for if you need to file a claim.
If you are searching for a top insurance agency, comparing the best insurance options, or looking for an insurance broker who can explain your policy clearly, we are here to help.
To review your wind and hail deductible or get an insurance quote for deductible coverage, give us a call at (469) 656-8477. You can also get a quick insurance quote for deductible coverage here:
https://solainsurance.com/quote-application/get-quote?email=jacob@trustedinsurancepartners.com
We would be happy to help you feel more prepared before the next storm.