Every year, hail and windstorms cause $2 billion in damages to homes nationwide. Windstorms and hail can especially damage a home’s siding, gutters, and roof. In fact, it is not uncommon for a homeowner to discover that his/her entire roof needs replacement following a hailstorm, which costs somewhere in the neighborhood of $8,000. Fortunately, damages caused by hailstorms and windstorms are covered under a standard home insurance policy.

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Even though insured homeowners are protected against damages caused by hail and windstorms, nearly 67% of these homeowners are underinsured. This translates to nearly three-quarters of all insured homeowners having to pay out-of-pocket for damages caused by hail and windstorms. There are several steps you can take to avoid being underinsured, including the following:

• Ask your insurance company to perform an analysis of your home’s replacement cost.
• Learn the terminology. When you purchase a policy that pays “actual cash value,” you receive reimbursement for your property, minus depreciation. If you pay more for a policy that stipulates “replacement cost,” you will typically receive 10% to 20% more than actual cash value.
• Alert your insurance agent of any improvements you make to your home, as these increase the home’s replacement value.

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• Since 1980, an average of 3,000 hailstorms has hit the United States each year.
• The largest hailstone ever recorded fell in Nebraska on June 22, 2003 at 7 inches wide by 18.75 inches around.
• One way to keep premiums down is to use new roofing materials that can better resist hail. Discounts can range from one percent to 35%, depending on the location of the home and the type of roofing materials used.