Before the Storm – Making Sure You Are Insured Against Hailstorm Damage for Your Home and Business
Purchasing a home is a big step. When we shop for a house, we typically focus on whether it has all of the bells and whistles that we are looking for and is it in the right neighborhood. Although we know we need to insure our house to satisfy the mortgage company, many of us don’t think about what type of insurance we need in the event of a natural disaster such as a hailstorm. Many of us, however, need to make sure we are insured against hailstorm damage for our homes.
Also, as we start and operate businesses, we may not be thinking about what we need to do in the event disaster strikes. Not only do business owners need to protect their physical buildings, but they also need to think about what they are going to do if they have to shut down their business due to hailstorm damage. Contact an insurance claim lawyer for help understanding your insurance claims.
Protecting Your Home
When you are discussing your insurance coverage needs with your agent, there are a number of things to consider. Not only do you need to cover the cost of your home, but also the replacement of your possessions. Also, you may want to discuss how you will pay for relocation and temporary housing if you need it. When purchasing coverage, homeowners need enough insurance to cover:
- Your home’s physical structure
- Your personal belongings
- Additional living expenses if your home needs repairs and cannot live there meanwhile
- Your potential liability to others
- Make sure that your policy covers hailstorm damage. If it does not and your insurance company will not cover hailstorm damage, you may need insurance through the Texas Windstorm Insurance Association. You may be able to purchase TWIA coverage through your agent if necessary.
One thing that you can do before the storm to help make any possible claim that you make that much easier is to inventory your belongings. If you have to make an insurance claim that covers damage to your personal property, you will have to itemize your damaged belongings. It is helpful to have proof well in advance of a claim of what you own. Here are some tips you can use when completing a home inventory:
- Begin by taking photos of each room and then list the items in each room so that you don’t overlook any details.
- Note the approximate cost of replacement of each item.
- For of your large ticket items, add serial numbers and include dates of purchase in your records too.
- You may want to create a video tour of your home to capture details about your possessions.
- It is recommended that your store your video, photos, and a hard copy of your home inventory at your bank in a safety deposit box, or at the home of a friend or relative so that the list will be accessible if there is damage to your home.
- Your home inventory should be updated after major purchases like appliances or jewelry.
You will need enough insurance to cover replacement costs of your belongings and to replace the physical structure of your home. Keep in mind, when you purchase insurance that you will have to pay a deductible for any covered loss. Make sure to discuss this deductible with your agent and whether that deductible changes for hailstorm damage claims.
Protect Your Business and Commercial Property
Texas business owners understand they need to run their business fairly and ethically to be successful. Owners take steps to protect their business from losses of all kinds including, theft, fraud, and hailstorm damage.
When purchasing insurance to cover your business, make sure that you discuss every aspect of the coverage that you need with the agent. For example, you want to be sure that your business is covered for:
- Damage to the roof of your building or warehouse
- Lost inventory in the event your warehouse is damaged and lost office equipment or supplies
- Replacement of items such as HVAC systems, windows, siding, and outdoor equipment that may be damaged by hail
- Profits lost in the event your business cannot operate or business interruption insurance
Business interruption insurance can cover the salaries that you will have to pay while your business closes down due to storm damage. It can also cover the profits that you lose while rebuilding and may also cover the cost of moving if you need to change locations.
Making a business hailstorm claim can be complex. Missing any portion of your losses when making the request for coverage can cost quite a bit. As a result, it may be in your best interest to take the time to ensure your business is fully covered.
Contact a Hailstorm Damage Attorney to have Your Questions Answered
If you have questions about your homeowner or business hailstorm claim, The Law Office of Mynor E. Rodriguez P.C. will take the time to answer them. Contact Mynor Rodriguez today for your free consultation.