Getting Tornado Insurance

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Tornados are natural disasters which can severely damage your home or business. So getting the right tornado insurance is essential for the reconstruction of your home and personal property.Don't live under the false impression that your homeowner policy will cover all the damages because some policies don't cover tornados.

Tornado insurance is relatively uncomplicated compared to other weather events. In case of hurricanes, the insurance may be slightly complicated as you have to be insured for the damage caused by storm surge and the floods along with the wind. Tornados are covered under the wind event listing by major insurance companies.

It is estmated that more than 1,200 tornadoes strike U S every year and total insurance claims from these tornados is approximately $8 billion every year. It is absolutely necessary to have a tornado insurance cover if you live in the Tornado Alley. Even if your home is in an area that has never had a tornado or isn't located in the Tornado Alley, still you need a tornado insurance as they can strike any part of the country.

Insurance companies provide two types of coverage for your valuables from a tornado. They are actual Cash Value policy and Replacement Cost Coverage policy. In an actual cash value poilicy, you are only covered for the value of the item at the time of loss. Most of the times, you won't get enough money to replace or repair the item that was damaged in an actual cash value policy. I advise you to have a Replacement Cost Coverage policy as the difference in the cost of your homeowners insurance premium between Actual Cash Value and Replacement Cost Coverage is very less.

In the aftermath of a tornado, file your claims immediately as Some insurance policies may place a time limit on filing claims. It is always better to document your damage. Photograph your belongings that are damaged and make an itemized list all damaged things.This helps you to settle your claims fast.