When a storm hits, it can cause significant damage to homes and businesses. In order to help people recover from these disasters, insurance companies offer standard homeowner insurance policies.
What exactly is covered by standard homeowner insurance policies for storm damage?
That can vary depending on the insurance company, but there are some general coverages that most policies include. At the end of this article, we will also discuss how Disaster Management Recovery Group (DMRG) can help you file an insurance claim and get the money you deserve after a storm!
What is Home Insurance?
Home insurance, also known as homeowner’s insurance, is a type of insurance policy that helps protect your home and belongings in the event of damage or theft. It can also provide financial assistance if you are liable for someone else’s injuries on your property.
Home insurance policies typically cover the dwelling itself, as well as other structures on the property like detached garages, fences, and sheds.
Contents insurance, which is also known as personal belongings insurance, covers the cost to repair or replace your personal belongings if they are damaged, lost, or stolen.
What Does Home Insurance Cover?
Home insurance policies typically cover four main types of perils: fire, windstorm, theft, and liability. Some policies will also cover additional perils like flooding, earthquakes, and landslides. The amount of coverage you need will depend on the type of home you have, the value of your belongings, and your personal circumstances.
Fire: Most home insurance policies will cover damage caused by a fire, regardless of the cause. This coverage can help pay to repair or rebuild your home, as well as replace any personal belongings that were lost or damaged in the fire.
Windstorm: Damage caused by a windstorm, such as a hurricane, tornado, or severe thunderstorm, is typically covered by home insurance policies. This coverage can help pay to repair or rebuild your home, as well as replace any personal belongings that were lost or damaged in the storm.
Theft: Home insurance policies will also cover damage caused by theft, even if your home was unoccupied at the time of the theft. This coverage can help pay to repair or replace any items that were stolen, as well as repair any damage that was done to your home during the burglary.
Liability: Home insurance policies typically include liability coverage, which can help protect you financially if someone is injured on your property and you are found to be at fault. This coverage can also help pay for any damage that you accidentally cause to someone else’s property.
What types of severe weather damage does home insurance usually NOT cover?
Home insurance policies typically do not cover damage caused by flooding, earthquakes, or landslides. This coverage is typically optional, and you will need to purchase it separately if you want it.
Am I required to have home insurance?
Home insurance is not required by law, but many mortgage lenders will require you to have a policy in place before they will give you a loan. Even if your lender does not require it, it is still a good idea to have insurance in case of an unexpected event.
The cost of your premium will depend on a variety of factors, including the value of your home, the amount of coverage you need, your deductible, and the location of your home.
What should I do if my home is damaged by a severe storm?
If your home is damaged by a severe storm, the first thing you should do is contact your insurance company to start the claims process. They will send an adjuster to assess the damage and determine how much coverage you are entitled to. Once you have received a settlement from your insurance company, you can then begin the process of repairing or rebuilding your home.
If you need help with this, you can contact a disaster recovery company like Disaster Management Recovery Group (DMRG). We can help you with insurance claims, repairs, and rebuilding. Contact us today to learn more about our services.