If you're like most homeowners in the United States, you have what is known as a standard Homeowners-3 insurance policy. Those policies tend to cover losses from windstorms, tornadoes, and certain other disasters – but not all. Typically, earthquakes, floods, and mudslides are excluded and require additional types of insurance.
Two key points to keep in mind regarding wind damage:
- You should closely examine the dollar amounts of insurance you have for wind and other disasters. You want to ensure you are comfortable with the coverage level for each disaster.
- On the Gulf or Atlantic Coasts, or near there, you may have limitations on your homeowners insurance regarding wind damage. You need to be aware of windstorm/hurricane deductibles by carefully reviewing your policy and discussing it with your insurance agent.
The Insurance Information Institute provides additional information about wind-related damages, noting that insurers may separate hurricane deductibles and deductibles from other kinds of wind. Both deductibles may range from 1 percent to 5 percent of a home's insured value, although in high-risk areas, hurricane deductibles may be higher.
There are two kinds of wind damage deductibles: hurricane deductibles, which apply to damage solely from hurricanes, and windstorm or wind/hail deductibles, which apply to any kind of wind damage. Percentage deductibles typically vary from 1 percent of a home's insured value to 5 percent. In some coastal areas with high wind risk, hurricane deductibles may be higher.
The III lists special deductible rules for 19 states that have special hurricane deductibles: Alabama, Connecticut, Delaware, Florida, Georgia, Hawaii, Louisiana, Maine, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Texas, Virginia, and Washington DC.
