wind and hail ins. (Leland: insurance, mortgage, house)

[dandt92]

Was wondering if it was necessary for wind and hail insurance in Leland? I heard if you have a mortgage you must have it.....however if you don't you don't have to have it. If by chance a storm hit and damage was caused by wind and hail...isn't is considered an act of God and the insurance carrier doesn't have to pay??? Getting conflicting info... thanks

[goldenage1]

Originally Posted by dandt92

Was wondering if it was necessary for wind and hail insurance in Leland? I heard if you have a mortgage you must have it.....however if you don't you don't have to have it. If by chance a storm hit and damage was caused by wind and hail...isn't is considered an act of God and the insurance carrier doesn't have to pay???

What you say is true. In addition, your regular homeowner's insurance will have clauses excluding damage from wind and hail. If you do not buy the wind and hail coverage, you could risk paying $200,000 out of pocket (for example) if your roof is ripped off and you have to rebuild.

We do not have a mortgage, and felt it was worth buying the wind and hail coverage. Currently our bill is $2400/year for both homeowners and wind and hail. The house is worth about $325K and we are 2.5 miles from the ocean, and not in a flood zone.

[sundaze]

Originally Posted by goldenage1

What you say is true. In addition, your regular homeowner's insurance will have clauses excluding damage from wind and hail. If you do not buy the wind and hail coverage, you could risk paying $200,000 out of pocket (for example) if your roof is ripped off and you have to rebuild.

We do not have a mortgage, and felt it was worth buying the wind and hail coverage. Currently our bill is $2400/year for both homeowners and wind and hail. The house is worth about $325K and we are 2.5 miles from the ocean, and not in a flood zone.

This is good advice. Unless you are very wealthy if you are paying cash for your house you probably want to protect yourself from catastrophic damage. We are also are about 3 miles from the ocean, not in a flood zone, and do not have a mortgage. We carry wind and hail insurance.

[Tammy B]

We moved from Maine, and when we got quoted the amount for our policy....I was shocked! It was almost four times what we paid for our homeowners policy back in Maine. I would advise you to go with wind and hail.

[dandt92]

Thanks so much for your input.....