Wind/Hail Coverage

Don't Get Blown Away!

We have all seen the devastation to the communities hit by recent tornadoes.  We are certainly not strangers to these storms here in Texas.
But what  is a homeowner's recourse after a devastating storm? This is where your insurance should protect you. This is why you have been paying those premiums! So that you can rebuild/repair that home that has been lost or damaged.
  On your homeowner's policy you should have a coverage for "Wind/Hail" listed. This will cover damage done to your home by Hail, Wind, Tornadoes and Hurricanes. (But not Flood- this is a separate policy altogether) Wind/Hail is listed as a deducible amount, not a coverage amount. In most cases, your wind/hail coverage should be the same amount as your "Dwelling Coverage". You will pay a set deductible before that coverage kicks in. The deductible is usually a percentage. For example, 1% of a $200,000 dwelling value would be $2,000. So  you would pay the first $2,000 of the repair/rebuild amount and your insurance would (should) cover they remaining amount. This coverage will just cover the actual building (or home). It doesn't cover Personal Property (contents). Fortunately most policies will cover Personal property as well. 
   One thing you want to make sure of is that you have a Replacement Cost policy, both for your dwelling AND your personal property. (They are 2 different types coverage and have separate rules governing them.) Some companies will try to sell you on a lower price without telling you it is an Actual Cash Value (ACV) policy. A Replacement Cost policy will pay out the amount to "replace" your home and it's contents at today's value. An ACV policy will pay out what it cost minus depreciation for the time and wear on your home and it's contents. It is your choice. But do yourself a favor. Spend a little more money and get a great deal more coverage with a RC policy. 
  Your agent is there to make sure you have the coverage you need and want. Ask him or her questions. You pay a premium to make sure you, your family, your home and your possessions are taken care of. Make your agent earn his/her keep by explaining what coverage you have, what your limits are.  Insurance is there to make you whole again in the case of a loss. After a devastating storm like the recent tornadoes, you need to know your insurance will do what you bought it for- Protect you!

Can we help you? call The Brockman Agency toll free 1-877-987-8683


    

Is your roof covered?

Your Roof Gives You Peace of Mind

 We saw some crazy rain in North Texas the last few days. Rain- great for flowers, not so great for roofs. Our roof protects us - from rain, snow, birds, bugs... We need that roof intact!
Many homeowners see leaks when it rains. It begins as that discoloration on your ceiling. Then it spreads and may begin to drip. That is when it is bad. That is when, more often than not, you discover you have roofing problems. Will your Home owner's insurance cover it?
   Your policy will cover replacing your roof if the damage was caused by vandalism or fire. But "acts of God" like Hurricanes and Tornadoes? Yes, usually. Now if the damage is caused by wind, rain or hail, it will most likely still be covered, but there is a special "wind/hail" deductible that applies.This deductible can vary in dollar amount or percentage of dwelling. The most common is a 1% deductible, but many companies start at 2%. Remember- the higher the deductible, the lower your premium, but the higher your out of pocket cost in the event of a claim.
   Some policies will only cover the Actual Cash Value of your roof. That means they will pay what your roof is actually worth. This includes Depreciation. The older your roof, the more depreciation of course. Many policies have an option to cover your home at Replacement Cost. This doesn't take Depreciation into account. This is the type of coverage I would strongly suggest you make sure you have. ACV will not cover the cost of replacing your 10 year old roof with a brand new roof. Replacement cost will cover the cost of replacing the roof at today's cost.
   Do you know what type of policy you have? Please contact your Insurance Agent (that is what we are here for!) and make sure you understand your coverage. Our roof offers protection. And our Insurance protects our roof. Know how well it will protect you.

Thanks for Reading!
Nancy Brockman

As always, if you have questions or concerns about your Home, Auto or Commercial insurance, please call toll free 877-987-8683 or click: http://www.wekeepuinsured.com/