Hail is most common in mid-latitudes during early summer where surface temperatures are warm enough to promote the instability associated with strong thunderstorms, but the upper atmosphere is still cool enough to support ice. In Kentucky, tornado frequency peaks in April and May and hailstorms normally occur between May and August. The best time to find out the answer to whether or not you are covered for hail damage is now — before you need the coverage. The following are a few tips about hail damage and home insurance.
What Does Storm Insurance Cover In Kentucky?
Storm insurance is designed to cover any storm-related events. Your Kentucky independent agent can help you understand what your insurance classifies as a “storm.”
Typically, you’ll receive coverage for damage from the following:
- Wind-driven rain or snow
- Falling trees
It’s important to understand what is covered by your policy, because you may want to purchase additional coverage. Just remember hail damage can cause significant damage to your home and property.
Hail Damage Home Insurance Claims Can Be As Much As $12,000
Most insurance policies cover the total cost of damage minus whatever the deductible is. On average, homeowners claim roughly $12,000 for residential hail damage, and around $4,300 for auto damage, according to State Farm’s hail claims data. Though, your claim can still be more or less depending on the damage. Sometimes hail damage can be repaired without a full roof replacement, but if not, you are going to be glad you have coverage. Hail can cause dents in your roof and siding which can lead to leaks and flooding. Homeowner insurance either has a replacement cost or an actual cash value cost when it comes to repairs. Replacement cost will cover the current cost to replace your roof while actual cash value will factor in the depreciation of your roof when paying out your claim. Some home insurance policies have a cosmetic damage exclusion. As weather patterns continue to change and severe wind and hailstorms become more common and expensive in different parts of the country, insurance companies have had to find creative ways to limit their losses. Cosmetic damage exclusions are one solution to this problem. If your policy has this exclusion, damage that only affects the appearance but not the function of your roof, siding, windows, doors, or any other part of your home may not be covered. Be sure to check with your insurer to see if cosmetic structural damage is excluded from coverage. Even if your homeowner’s policy covers wind and hail damage, a cosmetic damage exclusion means the damage isn’t covered if it affects only the appearance and not the function of the roof, windows, and siding. If your insurer suspects that the damage was due to a lack of roof maintenance or that it’s purely cosmetic and the roof is still functional, you may not be covered for repairs or replacement. All of these factors make it so important to check your policy before a severe hailstorm causes expensive damage to your home.
How To Make A Hail Damage Insurance Claim
The first step that you should take if you believe you’ve received hail damage, is to get in touch with your insurance company. For example, if your roof is damaged, you can call a roofing contractor, but you’d still need to go through your insurance first to get your claim approved, instead of trying to reach around them. If the contractor and the insurance agent disagree with the damages involved have your contractor talk to your agent. Once your claim is approved by the insurance provider you can schedule the repairs with your contractor. You will usually need to pay a deductible first which can be anything from 1-5% of your home’s insured value. One good thing about filing an insurance claim is that it will not raise your premium cost. This is because you were not responsible for the damage.
In conclusion, verify that your homeowner’s insurance includes hail damage. Given the high cost of repairs, it is often worthwhile to pay more for the coverage to ensure you are protected.
Rollins Insurance is an independent insurance agency providing our clients the best prices with the most coverage possible since 2008. We represent multiple A-rated insurance companies to make sure we deliver the most competitive rate packages to our clients in Kentucky and Ohio. We find that most people are under-insured and over-paying when we meet them. We love what we do and our primary business is Personal Auto, Homeowners, and Life and Health insurance. We are a family-owned and managed business that specializes in providing needs-based insurance services.
>> Learn More About Us and Our Staff