A windstorm is a type of storm that is caused by strong winds. These storms can cause a lot of damage, so it’s essential to have the right insurance coverage. Let’s say you live in Texas, where windstorms are common, and they end up damaging the roof of your home. Your homeowner’s insurance most likely will not cover the damages caused to your roof, and you may end up having to pay out of pocket. This is where windstorm insurance can be extremely beneficial to your finances.
What is Windstorm Insurance?
Windstorm insurance in Texas is a type of property insurance that covers damage to your home or property caused by high winds. This type of coverage is available as an add-on to your homeowner’s insurance or a standalone policy.
While most homeowners insurance policies cover basic windstorm damage, for people living in areas prone to high winds, your mortgage lender may require you to have additional coverage through a windstorm insurance policy. That way, your home is protected from this type of natural disaster.
What does Windstorm Insurance Cover?
Windstorm insurance policies cover damages to your home and its contents caused by high winds. This may include-
- Roof Damage
- Walls and Structure
- Other Personal Belongings
In short, the policy covers the cost of repairing or rebuilding your home in the event of a disaster.
However, windstorm insurance policies typically do not cover damage caused by flooding. So, if the storm has caused a surge of water to enter your home or basement floor, you wouldn’t be covered until you have flood insurance. Additionally, windstorm insurance policies do not typically cover damage caused by earthquakes or vandalism.
It’s important to remember that the coverages and exclusions listed in your policy may vary, so always be sure to read through it carefully. And if you have any questions, don’t hesitate to contact your homeowner’s insurance provider in Texas.
How Your Windstorm Deductible Works
A Windstorm Insurance policy includes both wind and hurricane deductibles. The type of deductible you pay will depend on your state. For example, in Florida, a windstorm deductible is required, while it may be optional in other states. On the other hand, a hurricane deductible is only available in states like Texas that are prone to hurricanes. This type of deductible will be higher than your regular windstorm deductible and will apply only when a hurricane is declared.
Regardless of the storm type, it’s vital to note that windstorm deductibles are calculated on a percentage of the dwelling value. So, for example, if your home is insured for $200,000 and your windstorm deductible is 2%, you would be responsible for $4,000 in damages before your insurance policy kicks in.
Typically higher deductibles equal lower premiums; however, this also means that you will be responsible for a more significant portion of the damages if your home is damaged. So, before you decide to increase your windstorm deductible, be sure to factor that into your decision when choosing a policy.
What is the Cost of Windstorm Insurance?
Typically the cost of windstorm insurance varies depending on several factors, including-
- The state you live in (Windstorm premiums are higher in coastal areas, as there is a greater risk of damage from high winds and hurricanes)
- The age of your home
- The type of policy you choose
However, on average, homeowners can expect to pay between $100 and $300 per year for windstorm insurance. Remember that this is only an estimate, so be sure to get a quote from your insurance company before purchasing a policy.
How to File a Windstorm Insurance Claim
Windstorm insurance policies work in a similar way to homeowners insurance policies in Texas. In most cases, the policy will cover damages to your home and its contents caused by high winds. If your home is damaged by an included peril (such as a windstorm), you can start the process of claiming with your insurance provider since most carriers have a specified time limit for filing a claim.
Take the following steps to file your claim:
- To start with, take photo or video evidence of the damage. This will help you file your claim and ensure that you are compensated for all the damages done. You also need to include proof of the storm, so try to collect official documents like a weather report or news article about the storm.
- Contact your insurance company to start the claims process. They will send an adjuster to inspect the damage and then work with you to develop a plan for repairs. Keep in mind that you may have to wait a while for an insurance adjuster to be available, so try to start the process as soon as possible.
- Before the adjuster’s visit, get a damage estimate from a contractor. This will help you know how much damage has been done and can be used as evidence when filing your claim.
- Fill out the claim form completely and accurately and submit it to your insurance company.
- Hire a contractor to be present during the inspection by the insurance adjuster. This will ensure that the work is done correctly and to your satisfaction.
- Your Insurer generally has 30 days to either approve or deny your claim.
Remember to be patient and stay in contact with your agent.
Your home is not just an asset you would like to protect; it is a lifetime investment. If something unfortunate happens and your home gets damaged, the best way to ensure that you will be able to restore it entirely is by having the right insurance policy.
Windstorm Insurance is one of the most important policies that you can have as it covers damages caused by high winds, which can occur during certain times of the year. Make sure to shop around and compare homeowners insurance quotes with windstorm policies to find the best coverage at an affordable price.
Get Affordable Windstorm Insurance with TX Insurance Quotes!
At TX Insurance Quotes, we understand that finding affordable windstorm insurance can be difficult. That’s why we offer a wide range of policies that are right for you, no matter your budget. Our agents are here to help you every step of the way. So if you have any questions about windstorm insurance, don’t hesitate to contact us.