What You Need To Know About Wind/Hail Deductibles

Living in an area with severe weather changes may leave a gap on your homeowner’s insurance. If you chose to stay in these parts of Texas, hurricanes and tornadoes may not be the only problem. Windstorms and hail damages can also affect your house more than you think. If you do not have right coverage, you may end up paying for the everything.

Hurricane Katrina in 2005 created hurricane deductibles which makes homeowners pay an out-of-pocket amount for hurricane damages. Before this event, insurance companies covered all type of hurricane damages for policyholders.

Wind/Hail deductibles are calculated in one out of two ways. Policyholders can pay a fixed amount of as much as $2,000 in every claim. On the other hand, homeowners can also pay a part of their policy’s coverage usually at 5 percent.

However, wind/hail deductibles are only applied in states near Tornado Alley. A part of the US that usually suffers from windstorms or hails. These states include Oklahoma, Kansas and Texas.

Insurance companies claim that a wind/hail deductible is needed to cover the costs acquired through storm damages. However, consumers are outraged of a separate deductible on their policies. Some policyholders are saying that it is just a way for insurance companies to “cut costs” and pass the expenses on to their customers.

While providing no coverage for wind might keep premium costs down on a traditional home insurance policy, it doesn't protect residents in those areas from the real threat of wind damage. As a result, some states have established funds that provide wind insurance for homeowners who can't get it as part of their home insurance policy.

How you can manage a wind/hail deductible

If you live in an area where there are severe windstorms and hails, you need to consider these steps to protect your home.

Insurance companies need to inform their clients if their policy is going to change. However, if you ignore the renewal notice that came in the mail, you might miss an important information. It’s safe to review the new policy after undergoing changes.

Once you feel like you don’t know everything about your coverage, you need to ask your broker or your insurance agent. However, keep in mind that while your agent may tell you all about the wind/hail deductibles, they might not do a thorough job on explaining the ins and outs of the policy.

It doesn’t matter if you don’t live in Tornado Alley, weather damages can happen at any place, anytime. If you need wind/hail coverage and your insurer require a deductible for it, you need to save up and pay accordingly to prepare for the worst.

Remember, to truly protect your investments, choosing a reputable insurance company is what matters most. At Brad Spurgeon Insurance Agency, our mission is to ensure that we protect are clients and offer them policies that they can afford. Learn more about our products and services by calling our agency at (409) 945-4746. You can also request for a free quote by CLICKING HERE.