Certain regions in Texas could face the brunt of a hurricane and its incredibly high-speed winds. Hurricane catastrophes may be unpredictable, as brutal storms might form with little warning. When hurricanes hit land, they could bring tremendous devastation. Homeowners and others may rely on insurance claims to cover their losses, although some policyholders might be unaware of how the contract works.
Homeowner insurance claims and hurricane damage
Assuming that a homeowners insurance policy covers everything related to hurricane damage might be incorrect. A significant amount of damage likely comes from the wind, and a policy might carry a wind damage deductible. A deductible refers to the out-of-pocket expenses the policyholder pays before insurance coverage comes into effect. In hurricane regions, the deductible might be high.
Flooding represents another common cause of tremendous hurricane damage. A flood insurance policy often becomes necessary to pay for these losses, and a standard homeowners policy may not have any coverage for flooding whatsoever.
That said, the homeowner policy may cover leaks. If the wind tears off sections of the roof and water enter, that would be a leak and not flooding.
Did flooding total a car in the driveway? While homeowner policies don’t cover flooding, auto policies usually do.
Other insurance items to know
Government assistance could come into play after a disaster. Is FEMA offering assistance? Anyone who suffers property damage may want to find the answer to that question.
Insurance-related concerns arise after natural disasters. Some might wonder what exclusions appear in the terms. Policyholders might wish to review their contracts to determine the exclusions and limitations. If a policy doesn’t meet someone’s standards, purchasing a new one might be an option.
If an insurance company violates its terms and improperly issues denials, policyholders may sue. A successful bad faith lawsuit could force an insurance company to live up to its obligations under the policy.