Just because you have insurance doesn’t mean you won’t have to worry too much about storm damage. An insurance policy only protects you against certain kinds of natural disasters. Plus, these policies often come with conditions attached.
You’ll Pay a Deductible Annually
Every year, you’ll have to pay a deductible, which is a percentage of the total amount you’re insured every year. Deductibles, particularly those for wind and hail damage, range from 1% to 5%.
Insurers Will Only Pay 50% to 70% of the Amount Insured
Normally, an insurance policy will cover your home, including detached units like a shed or a separate garage, belongings and living expenses while the repairs are being done. But keep in mind that insurers usually only pay for about 50% to 70% of the entire amount insured.
You Need a Separate Policy for Protection Against Flooding
Most policies won’t reimburse you for flood damage – you’ll need to buy another policy for protection against that kind of damage. However, if your home is in a federal flood zone, and you took out a mortgage to buy it, you most likely have flood insurance already. Homeowners who meet the said criteria are required to buy insurance from the National Flood Insurance Program or NFIP, which can cover a house for up to $250,000 and your belongings for up to $100,000.
However, even if you don’t live in a federal flood zone, it’d still be a good idea to purchase flood insurance. According to the Federal Emergency Management Agency (FEMA), a fifth of flood claims come from homeowners who live outside flood zones.
Ask for Professional Help When Filing Claims
A lot of homeowners think the process for filing an insurance claim is fairly straightforward, but that’s rarely the case. If you’re filing a claim for storm damage roof repair work, hiring a contractor can make the process a lot quicker. Just make sure to hire an experienced contractor. That way, you can rest easy knowing that the repairs are done properly.
Atlas Construction, a family-owned contractor with nearly two decades’ worth of experience, offers a wide range of roofing services, including roof replacements and insurance claims assistance. To book an appointment, call us at (828) 585-6010, or fill out the form here.