A hurricane is the last thing a homeowner should experience but should be prepared for nonetheless. During this situation, the top priority is keeping your home and your family safe. As such, your trusted roofing and siding expert, Lexington Blue, shares three important details you should know about hurricane damage coverage.
Homeowner Insurance Mainly Covers Four Categories
Your homeowner’s insurance policy most likely offers protection for these four categories:
- Home Coverage
- Detached Units (Garages, sheds)
- Personal Belongings
- Living Expenses (In case of displacement)
Your insurance claim for your personal belongings usually adds up to 70% of your home’s insured value.
You May Have Hurricane Deductibles
Hurricane deductibles can amount to up to 5% of your home’s insured value and some homeowners can be caught off guard since these deductibles have to be paid for upfront. According to roofing contractors, a home with an insured value of around $250,000 should be able to pay $12,500 before being covered by the insurance policy. As such, it’s a good idea to prepare an emergency fund for a situation like this, especially if you live in a hurricane-prone area.
Flood Insurance Is Sold Separately
This may come as a surprise to many but flood insurance is actually separate from your standard homeowner’s insurance policy, even if the flood is caused by a hurricane. To prepare for this, you’ll have to purchase a flood insurance policy to be covered. If you live in a federal flood zone, you can get an insurance policy through the National Flood Insurance Program.
If you’re looking for a reliable roof replacement contractor, call on Lexington Blue! We only install high-quality roofing and siding from leading manufacturers in the industry. Call us at (859) 368-6346 or fill out our contact form to get a free quote. We work with clients in Lexington, KY.