All storms are not created equal --- hail damage

All storms aren’t created equal, nor are insurance policies.

Although one would assume that filing a claim defaults to a “set” deductible expectation, this is not how it works when it comes to wind and hail deductibles. This is the definition of wind and hail via IRMI, a credible and popular insurance resource:

Wind or Hail deductible: A separate, higher deductible provision that applies to loss caused by wind or hail. Often, the deductible is expressed as a percentage of the value of the property or, in a homeowners policy, as a percentage of the dwelling limit, rather than as a flat dollar amount.

This is counter intuitive, and means that instead of having a flat deductible like your auto’s comp, collision, or almost any other kind of deductible, the carrier will charge you a percentage of the value of your home before they address your loss. Really? Really. Let’s do some quick math:

If you own a home that has a $250k value, a 1% deductible on a wind/hail claim will mean $2,500 up front before a claim can be filed. $2,500! That is $1,500 more than what one would expect, especially seeing their water, theft, and other home related deductibles are $1,000.

If you’re buying your first home, or not sure you want to use your same insurance consultant for another year, give Elevated Insurance a shout. We’ll help you understand what you have, what’s available, and make sure you get the best coverage for your dollar.

We encourage you to insure differently. We are driven to serve.

Elevated Insurance is located at N19 W24400 Riverwood Drive, Suite 350, Waukesha, WI 53188. For more information on Elevated Insurance and owner Jackson Bubolz, please text/call 262.424.0420 or Jackson@elevatedins.com. www.elevatedins.com