Depending on where you live and the insurance company's underwriting guidelines, windstorm and hail coverage may be excluded from the primary residential property insurance policy. Some property owners may purchase a separate windstorm and hail policy. It is important to know that this policy would have a separate deductible. Often, if your windstorm and hail coverage is offered in a separate policy, it is written by the The North Carolina Insurance Underwriting Association (NCIUA) also known as the Coastal Property Insurance Pool.
The NCIUA is a tax-exempt association of insurance companies authorized to write and engage in writing essential property insurance coverage in North Carolina. The Association was created by law to provide adequate essential property insurance to property owners having insurable property in the Beach and Coastal Areas of North Carolina. The eligibility for a Windstorm and Hail policy with the NCIUA requires that the insured have an active primary coverage policy provided by an admitted carrier in North Carolina that has excluded windstorm. Remember to talk with your agent and/or insurance company, to ensure you are properly covered for wind and hail losses.
Named storm deductibles are only triggered under specific circumstances. However, it’s important to talk with your agent and read your policy to understand the details of these deductibles so you are prepared in the event of a severe storm.
- "Named storm" means a weather-related event involving wind that has been assigned a formal name by the National Hurricane Center, National Weather Service, World Meteorological Association or any other generally recognized scientific or meteorological association that provides formal names for public use and reference. A named storm includes hurricanes, tropical depressions and tropical storms.
- The deductible is typically a percentage of your Coverage A (Dwelling) or Coverage C (Personal Property) dollar amount and is shown on your declarations page.
- A named storm deductible typically applies to loss caused by the peril of Windstorm or Hail during the period: Beginning at the time an advisory, watch or warning for a "named storm" is issued or declared for any part of the state of North Carolina by the National Weather Service; and ending 24 hours following: The termination of the last watch or warning for a "named storm" for any part of North Carolina by the "National Weather Service"; or The issuance of the last advisory for a "named storm" for any part of North Carolina by the National Weather Service, whichever is later.
- Example: A 2% named storm deductible on a home insured for $300,000, would be $6,000.
- With respect to a Windstorm or Hail loss, the deductible is a percentage of your Coverage A (Dwelling) amount and is shown on your policy declarations page.
- For example, if you have $200,000 worth of home insurance coverage and your home is damaged by wind or hail, a 1% deductible would mean you'd pay $2,000 out of pocket for every wind or hail related claim.
If you have had a windstorm or hail related loss and wish to file a claim:
- Contact your homeowners insurance agent or company to report the loss. Even if you have a NCIUA separate wind policy, your primary insurer will investigate and adjust the claim.
- Do what you can to stop further damage from happening. An example of this would be to place a tarp on your roof to prevent water from coming into the house. Keep receipts because your reasonable expenses to protect your property may be reimbursed by your insurance company.
- Make a list of the damages and take clear pictures before you make any temporary repairs.
- Make temporary repairs so further damage doesn't occur and keep your receipts. Do not make permanent repairs until your insurance company has had a chance to inspect the damage and you have agreed on the cost of the repairs. Check with your insurance company before you dispose of damaged materials or items.
- If your home is unhabitable, check with your insurance company to determine which expenses will be reimbursed.
- Ask the claim adjuster what to expect during the claim and whether additional information is needed to process your claim in a timely manner.