Natural disasters like earthquakes or floods can strike at any time. These can cause extensive damage to a home. It pays to be prepared, especially if you live in a region prone to such events. A standard homeowner’s insurance policy will only cover damage from certain sources. With Paul Davis Restoration of North Dallas, learn the limits of homeowner’s insurance and find out how to make sure your home is fully protected.
Understanding Homeowner’s Insurance Coverage
It’s important to review your homeowner’s insurance policy and make sure you understand which perils it will cover. Perils are defined as events that result in damage to your home. For example, a fallen branch may be the peril that causes damage to your roofing. The most covered perils include:
- Fire
- Lightning strikes
- Extreme cold
- Wind and hail
- Tornadoes
The specifics of your coverage will depend on your insurance company, your state, and the level of coverage you have selected. Some policies only protect against named perils or risks specifically listed in the policy. Others protect against all perils except those they specifically exclude. If a peril is not covered by your policy, you may be able to pay for endorsements that provide additional coverage.
What Doesn’t Insurance Cover?
While different policies offer different levels of coverage, there are certain perils that standard homeowner’s insurance will never cover. This is due to risk. These perils create extensive damage that is costly to fix. Covering them would require standard insurance to become very expensive. Instead, these coverage types are provided by a separate policy.
Flooding
Flood damage is excluded from all types of home insurance policies – a gap that can be devastating to homeowners caught unaware. This is why some high-risk areas require homeowners to own separate flood insurance. Even if it isn’t required, it’s a worthwhile investment in any region prone to floods. Flood insurance is available from private insurance companies or the
National Flood Insurance Program (NFIP).
Hurricane Winds
Standard wind damage is usually covered by a standard policy. Hurricane-force winds, however, are typically excluded. If you live in a coastal area that is subject to hurricane season, consider buying a policy endorsement to extend your coverage. Some insurance companies also offer separate policies for
windstorm and hail damage.
Wildfires
Like hurricane-force winds, wildfire damage is sometimes considered an exception to normal fire coverage. This exclusion includes direct damage if the wildfire reaches your home, in addition to smoke and ash carried by wind or rain. If you live in a region prone to seasonal wildfires, we recommend investing in additional coverage.
Earthquakes
Home insurance never covers earthquakes. This rule comes with one exception: the earthquake starts a fire. In this case, your standard policy will cover damages from the fire, though it will not pay for other forms of damage caused by the earthquake. Most carriers in high-risk regions will offer earthquake endorsements, though homeowners in California may need to purchase an additional policy.
Recover from Natural Disaster
If your home has been victim to a natural disaster, help is available. Paul Davis Restoration of North Dallas cleans and repairs damage from storms, fire, flooding, and more throughout North Dallas and the surrounding areas. We use the most advanced tools and technology available to return your home to its pre-loss condition. We also employ a team of experienced
insurance professionals who communicate directly with your homeowner’s insurance company to streamline the process.
Contact us today to learn more.
