Tornado watch issued for NYC area. How to insure your home against tornado damage.
Tornado watch issued for NYC area. How to insure your home against tornado damage..
Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure .
The National Weather Service issued a tornado watch on Tuesday, July 22, for all Five Boroughs, plus Nassau County and parts of New Jersey, Connecticut, and Pennsylvania. According to the National Weather Service, a tornado watch means "tornadoes are possible in and near the watch area" and advises those in the affected area to "be ready to act quickly if a warning is issued or you suspect a tornado is approaching." While some tornado damage is minor, like broken windows or snapped tree branches, a Category F5 tornado can have wind speeds over 300 mph and tear a home right off its foundation.
A tornado can wreak havoc on a home, and one way to be ready is by having adequate insurance coverage. A homeowners insurance policy can help cover the cost of repairs and replace items damaged in the storm, but not all wind damage is treated equally, and there are some caveats to what a policy will and won't cover.
Most standard homeowners insurance policies include coverage for wind-related damage, like tornadoes. Here's a breakdown of what's usually covered.
Dwelling coverage. This part of the policy helps cover damage to a home's actual structure. So, whether a tornado rips off a few shingles or levels the entire house, dwelling coverage can pay for repairs or a rebuild (up to policy limits).
Other structures coverage. This covers repairs or replacement if a tornado damages structures on a property that aren't attached to the home, like fences, detached garages, or sheds. Most policies cover up to 10% of your total dwelling coverage. So, if your dwelling limit is $500,000, your other structures coverage may cover up to $50,000.
Personal property coverage. This helps pay to replace belongings, like furniture, electronics, or clothes, if they're damaged by wind. This coverage is usually between 50% and 70% of your home's dwelling limit, but you can typically increase it if you need more. Just keep in mind that some items, like jewelry or furs, may have lower payout limits (called sublimits). For example, jewelry may only be covered up to $2,500 unless you add extra insurance.
Loss of use coverage. In some cases, a home may become unlivable due to storm damage. This coverage can pay for temporary living expenses, such as hotel stays, meals, or transportation. Most policies have coverage limits between 10% and 30% of your dwelling coverage for these costs.
Learn more: Homeowners insurance: What it covers and how much you'll pay
Even if your home insurance policy covers tornado damage, there are still a few common things that policies usually don't cover. Here are some typical exclusions.
Flooding. If the storm led to rising water or a storm surge, a standard policy probably won't cover the damage, but there's a separate flood insurance for that.
Earth movement. Damage from shifting soil, sinkholes, or earthquakes is usually excluded. For this type of coverage, separate earthquake insurance is necessary.
Wear and tear. Insurance doesn't cover damage that happens gradually over time due to lack of maintenance. So, if a roof wasn't properly maintained, any damage to it probably won't be covered.
Mold. Mold that forms due to long-term moisture issues or delayed cleanup is typically not covered. Some policies offer limited mold coverage, so extra protection like a mold rider might be necessary.
Pests. Damage caused by pests, like rodents, termites, or insects, isn't covered, even if they move in while repairs are made.
Here's how to file a home insurance claim if a home is hit by a tornado:
Many insurance companies allow a claim to be filed by phone, online, or through an app. If you have questions along the way, an insurance agent or a company representative can help with the process and help clarify any aspects of a policy or claim.
Create a list of everything that was damaged, and take photos or videos of both the inside and outside of the home. Hold on to any receipts for things paid for because of the damage and include those when filing a claim.
