Living and owning a home along the coast of Texas means considering the impact of natural disasters such as hurricanes. While it may seem logical that homes covered under an existing home insurance policy protect your home in the event of hurricanes, this is typically not the case. The information below can provide much-needed clarification about hurricane insurance claim denials.
Lack of appropriate insurance
Hurricane damage is generally covered under multiple types of homeowners insurance. Hurricane damage coverage is often through flood or wind damage insurance. If the insurance policy purchased covers one or the other but not both, you may have to cover the damage costs yourself. Insurance adjusters spend a great deal of time determining what caused the damage sustained by your home. And hurricane damage is often caused by both flooding and wind damage.
Verifying your insurance type and discussing coverage before your purchase is critical. Ensuring that you ask questions about the details of your policy may prevent disappointment in the future.
Complex deductibles
In addition to the type of insurance, it is critical to remember that most insurance companies require the payment of a deductible before issuing payment for damages. Many homeowners’ insurance policies have separate deductibles for loss and theft and one for hurricanes. Insurance companies will often require the payment of both insurance deductibles before providing financial compensation. If the insurance policy deductible is excessive, your hurricane insurance claim may face rejection.
Hurricane insurance is an essential part of protecting your home and assets. Learning more about the specific types of hurricane coverage can help protect you during a natural disaster.
