Does Homeowner's Insurance Cover Hail Damage to the Roof?

Technically, hail and windstorm damage are insured dangers under a typical homeowner's insurance policy. The housing and personal property coverage provisions of your insurance plan will assist in defraying the expense of replacement or repairs if a hailstorm damages your house or personal items.

However, there can be restrictions to your coverage as it relates to hail damage in regions of the country that are disproportionately affected by hail. The following are some of the several strategies insurers are employing to mitigate the rising expense of hail claims in high-risk areas of the nation:

Exclusions From the Policy For Minor Roof Damage

Insurance firms have had to come up with innovative solutions to reduce their losses as weather patterns change and severe wind and hail storms become more frequent and costly in various regions of the country. Exclusions for cosmetic damage are one way to deal with this issue.

If this exclusion applies to your policy, damage to your roof, siding, windows, doors, or any other component of the house that solely affects look but not functionality may not be covered. Make sure to ask your insurer if structural or cosmetic damage is covered.

Lower Levels of Replacement Roof Insurance

Some insurers may only pay out the actual cash value (ACV), or depreciated value, of your damaged roof if it is older than 15 years.

Hail and Wind Deductibles

The sum that you must fork over before your insurance provider will pay a claim is known as your policy deductible. This means that if your deductible is $1,000 and your hailstorm-related roof damage claim is $10,000, you will first have to pay the $1,000 deductible before your insurance pays the remaining $9,000 in damages.

Residents of areas of the country that are prone to tornadoes or hail are frequently offered separate wind and hail deductibles by insurance carriers. This deductible is frequently expressed as a percentage of the insurance coverage for your home, typically between 1% and 5%. If your property is insured for $250,000 and your wind/hail deductible is 3%, for instance, you would first need to pay $7,500 on a claim for wind or hail damage before your insurer would cover the remaining cost of the loss.

In order to reduce the price of insurance, insurers frequently provide wind and hail deductibles as an endorsement. You can decide to apply your usual policy deductible to wind and hail damage instead when it is available as an optional add-on, but keep in mind that your insurance rates will probably be higher.

Exclusions For Hail and Wind

Insurance companies may offer you the choice to completely exclude wind and hail damage in exchange for lower insurance premiums, which works similarly to the wind/hail deductible as a technique for lowering rates. Just keep in mind that in the event of a heavy wind or hailstorm, you can be forced to pay for everything out of pocket. The wind and hail exclusion is probably not your best choice unless you have a rainy day fund that could pay for a complete rebuild of your home and then some.