Home Insurance. Thursday , March 01st , 2018 - 17:57:55 PM
Given the number of uninsured and underinsured homeowners during the 2017 natural disasters, there seems to be a disconnect between homeowners understanding their coverage and what their policy actually covers.
Some insurers might not include wildfires as a “covered peril” in areas that are prone to repeated wildfires. If you live in a state where wildfires are more common, your homeowners premium will most likely reflect that increased risk.
Nineteen states and the District of Columbia have hurricane deductibles, according to the institute. Some states — including Alabama, Mississippi and South Carolina — offer a tax deduction for money deposited in special catastrophe savings accounts, to help homeowners set aside funds for their hurricane deductibles. Some policies offer discounts if homeowners use reinforced shutters to protect windows, or use special clips or straps to help secure roofs during storms.
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