Insurance policies can be hard to decipher.
What does “wind coverage” mean on your home insurance?
From the chilly gusts of autumn to warm spring breezes, most of us enjoy the occasional windy day. But there are times when wind becomes something menacing.
Under the right conditions, lost shingles, fallen trees, and flying debris can cause thousands of dollars in damage to your home. That’s why there’s a policy called wind coverage.
In this article, we’ll cover everything you ever wanted to know about wind coverage to help you find a policy that’ll leave you feeling protected.
What Is Wind Coverage?
Wind coverage—also known as windstorm insurance—covers damage to your home caused by high winds, such as:
Hurricanes and tropical storms,
Thunderstorms
Tornadoes
Hailstorms
And more.
In many cases, wind coverage is included in most home insurance policies. Typically, your dwelling coverage will help repair or replace damage to your roof, siding, or windows if you need to file a claim.
However, depending on where you live, you may be dealing with higher deductibles/premiums and lower policy coverage limits. You also may have a harder time finding carriers who are willing to cover you.
If you’re located in a high risk wind-pool area, your policy may not include coverage for windstorm damage at all, in which case you would have to pay for a separate policy, usually through Citizens Property Insurance.
Although we’ve warned policyholders against purchasing a Citizens’ policy in the past, it’s certainly better than no insurance at all. The Wind-Only policies sold by Citizens in Florida are all about your dwelling and its contents chiefly while on-site. This means they don’t contain many of the gaping liability and off-premises property coverage gaps and omissions that the company’s Multi-Peril policies contain or are missing.
Hurricane Deductibles
As a coastal state that sees its fair share of hurricanes and tropical storms, Florida has different standards when it comes to windstorm deductibles.
A close examination of your insurance contract will reveal that you likely have two deductibles on your homeowner’s policy: one for named storms or for all wind and hail events and one for everything else that is covered.
While a typical deductible is a set price, your hurricane or wind deductible is usually based on a percentage of the insured value of the dwelling. For example, if your home (dwelling) is insured for $250,000 (Coverage A – Dwelling), your hurricane deductible would likely be $5,000 or 2% of Coverage A – Dwelling ($250,000).
The good news is that this deductible is not levied per storm, but per season. So if you get hit with two hurricanes in the same year, you won’t have to pay two hurricane deductibles.
Wind Coverage Is Not Enough
While windstorm coverage is a necessity, it’s not the only form of insurance you need to protect yourself against Florida weather.
It’s important to remember that wind coverage is limited to damage caused by wind. Damage caused by rain and/or flooding is different.
Furthermore, while water damage coverage is included in your homeowners policy, flood insurance is not. (Yes, there’s a difference between flood damage and water damage!)
In order to protect yourself against the widest range of risks, you shouldn’t be content with the most basic forms of insurance coverage.
How To Save On Windstorm Insurance Costs
Fortunately, saving on windstorm insurance is easy!
Florida law requires that insurance companies provide discounts to homeowners who pass a wind mitigation inspection.
A wind mitigation inspection is performed by a building professional (such as a general contractor, licensed home inspector, or architect), who looks at seven key areas of your roof to determine its ability to withstand strong winds and water intrusion.
Most wind mitigation inspections can be completed in under an hour and generally cost between $125-175. If you receive a “passing grade,” you will receive a discount on your premiums for the next 5+ years.
Good Coverage Is Worth It!
While wind insurance is not required by Florida law (and you are allowed to refuse it), we recommend that every homeowner makes good coverage a priority.
According to the Insurance Information Institute, wind damage accounts for nearly 40% of all insurance claims nationally and the cost of the average claim exceeds $12,000. Do you have that much money lying around?
With coverage that fits your needs and risk profile as well as your budget, you’ll be able to breathe easier knowing that you’ve done everything in your power to protect your home in the event of an emergency.
Looking For Wind Protection?
At Harry Levine Insurance, protecting your home from wind damage is on our mind beyond hurricane season.
As an independent insurance agency, we don’t just provide quotes from a wide range of trustworthy insurance carriers, we are proactive in making sure you have the right coverage for you.
Call today for a free quote so we can discuss your needs.
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