What Everyone Should pay attention to with your Insurance renewal and that mail you sometimes receive from your Insurance company.
This time of year our agency locations tend to get a little busier with customers policy renewals and potential changes that could affect one in the event of a Wind & Hail storm. Here in Wyoming we do get some nice weather from time to time along with some pretty nice storms to. Some of the predominant perils we encounter this time of year would be those peril's of "Wind and Hail".
Depending on which Insurance company you may have different coverage and different deductibles may apply for these peril's. The more common difference being how the Peril's of "Wind & Hail" ( Usually combined) have a higher dollar amount deductible or sometimes a percentage of your Primary dwelling amount such as 1% or 2% percent. For example if your home is insured for $200,000 worth of home insurance coverage and your home is damaged by wind or hail, a 1% percent deductible would mean you'd pay $2,000 out of pocket for every wind or hail related claim. And a 5% percent deductible would potentially cost you $10,000 dollars. Other things that may be changed with in a Policy (usually in Commercial insurance ) would be the possibility of a "Cosmetic Roof Exclusion" which means if one has a Metal Roof and it gets hit and dented by hail it may be excluded under this change because it does not constitute Tangible destruction, and the roof covering still affords shelter and proper water shed.
Like we have mentioned in our past posts. We should always read that piece of mail from your insurance company, or Re-read our Insurance policy upon renewal because insurance is constantly changing just like our weather patterns year to year, along with your potential insurance coverage's . One can always contact your agent about these percentage deductibles and the possible options for changing them to something your more financially comfortable with.
Spring is in the air Wyoming and our storms can deliver everything from Non-damaging Graupel to some very large Hail just pummeling Cars and Homes with some major destruction. With the changing weather patterns also sometimes bring changing insurance policies and changing "Wind & Hail deductible" obligations, that one needs to pay attention to when reviewing your Insurance. These type of Wind & Hail deductibles can be written within your policy in a few different ways and most commonly seen as a flat dollar amount or fixed denomination, and sometimes a Percentage deductible such as 1%, 2%, 5% or more of your Primary Building or Dwelling insured limit. Like anything else in life lets be sure to read that fine print so those Storms are the only surprise we may encounter if they visit your neighborhood . #theinsurancecornersofwyoming
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Are you a Snowbird leaving home for a while ? Are you familiar with your Insurance policy's Vacant and Unoccupied clause ?
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920 E. Richards St.
Douglas, WY 82633
Casper, WY 82601,82604,82609, Lusk, WY 82225