A natural disaster can be a frightening event. It can leave you feeling vulnerable and exposed. One of the things that may help you feel a little better is knowing that your homeowner’s insurance policy will likely help cover some of the costs associated with the disaster.
However, not all catastrophes are covered by your standard insurance policy. So it is best to first look at homeowners insurance quotes to see what is and what is not covered. The following are the most common disasters covered by homeowners insurance policies.
Catastrophes That Homeowners Insurance covers
If a catastrophe damages your belongings, home insurance in Beaumont offers you the insurance that can cover the costs to repair or replace your personal belongings and other structures on your property. Also, your policy can pay for additional living expenses if you cannot live in your home after a covered disaster.
Additionally, if hurricane winds damage your home, your house insurance may require you to pay more out-of-pocket expenses depending on where you reside. Here is a list of the common house insurance claims and their coverage implications to keep in mind.
Fires
Fires are the most common disasters covered by home insurance. If a fire destroys your place, your homeowner’s insurance policy can help pay to repair or replace it. Your policy can also cover the cost of personal belongings damaged or destroyed in the fire. However, if you set your house on fire intentionally, your homeowners insurance policy will not cover the damages.
Homeowners insurance also protects you from wildfires. However, if your house is located in a particularly high-risk area, it might be more challenging to find coverage. If you live in an area that does not offer adequate coverage, you may be able to purchase FAIR (Fair Access to Insurance Requirements) Plan insurance, which is a last resort insurance option available through your state.
Hurricanes:
Hurricanes are another common disaster that is covered by homeowners insurance policies. Most states on the Atlantic coast have a hurricane deductible requirement, which is usually set at 1% to 5% of your house limit. For example, if your home is damaged or destroyed by a hurricane, your homeowner’s insurance policy will pay to repair or replace it.
Your policy may also cover the cost of living expenses if you cannot live in your home after a hurricane. However, your homeowner’s insurance policy may not cover some hurricane-related damages. For example, damage from flooding is not covered by homeowners insurance policies. So any flood damage caused by a hurricane would not be covered by your insurance. For that damage, you will need a separate flood insurance policy.
Tornadoes
Wind damage caused by tornadoes is covered by homeowners insurance, as are its consequences, such as hail, wind-driven rain, and fallen trees. However, it’s typical for insurers in tornado-prone areas to demand a separate wind and hail deductible before coverage will pay the expense of tornado damage. A Wind and Hail Deductible is generally between 1% and 10% of your dwelling insurance limit. If you want to keep costs down, some insurers may let you opt-out of covering wind and hail damage altogether. But remember that you won’t be protected from any wind or hail damage if you do this.
Explosions
Most types of explosions, such as those caused by gas or propane leaks, are covered by home insurance companies. It also covers outbreaks away from your property, such as if your neighbor’s propane tank exploded and destroyed your house.
There are some situations when home insurance will not cover explosions. For example, the policy does not cover nuclear risks, intentional and illegal acts, or armed conflict.
Volcanic Eruptions
Volcanic eruptions are natural disasters that are covered by standard homeowners insurance policies. It protects you against volcanic explosions, ash, dust, and lava flow. In addition, if a volcano eruption causes fire or smoke damage to your property, your home insurance will cover it. But if the eruption causes an earthquake and damages your property, it will not be covered by your homeowner’s insurance policy.
Extreme Cold and Weight of Snow
Your homeowner’s insurance policy will cover damages caused by the weight of snow and ice on your property. In addition, home insurance can help with the expense of repairs if the heating system was in use and extreme cold caused damage, such as burst pipes or a malfunctioning heating system. But if you didn’t maintain your property and the extreme cold caused damage, such as if you didn’t shovel the snow off your roof and it collapsed, your home insurance policy will not cover the damages.
Lightning
Lightning is a common disaster that is typically covered by homeowners insurance policies. If your home is damaged or destroyed by lightning, your homeowner’s insurance policy can help pay to repair or replace it.
But, homeowners insurance policies do not cover some types of damage. For example, if a lightning strike damages your computer, your homeowner’s insurance policy will not cover the damages. So you will need to have a separate insurance policy for that.
Sudden Water Damage
Sudden water damage, such as from a burst pipe, is typically covered by homeowners insurance policies. This is because the policy can help with the cost of repairs or replacement. But, there are exceptions to this coverage. For example, if you knew about the leaky pipe and did not fix it, your homeowner’s insurance policy will not cover the damages.
Final Verdict
Home insurance provides coverage for a variety of disasters. Most homeowners insurance policies will cover damages caused by common disasters, such as hurricanes, tornadoes, and explosions. However, there are some situations when home insurance will not cover the damages. It is essential to read your policy carefully to understand what is not covered. Get quotes from home insurance providers catering to customers in the major cities of Texas such as Laredo, Lubbock, McAllen, Odessa, Victoria to find out how much coverage you have. You may also need to purchase separate insurance policies for damage, such as flood insurance. But in general, homeowners insurance can help protect you from a variety of disasters.
