Your first introduction to a tornado may have been the one that landed on the witch in the Wizard of Oz. Hopefully that is as close as you’ll get to a tornado, but few Wisconsin residents are so lucky. Tornadoes in this part of the country are common in the spring and summer and can be every bit as violent and destructive as portrayed in books and movies.
You can’t prevent bad weather, but you can and should plan ahead. Consult with an agent at Couri Insurance Agency and make sure you have a homeowners policy that adequately covers damage suffered from tornadoes.
Many homeowners policies issued in this part of the country are based on standard form HO5 and contain four kinds of coverage:
- Coverage A is the amount you could receive in the case of a total loss of your home.
- Coverage B is the amount you could receive for the loss of other structures.
- Coverage C is the amount you could receive for the loss of your personal property.
- Coverage D is the amount you could receive for additional living expenses.
Note the importance of being “adequately” insured, meaning that you purchase enough insurance to equal at least 80% of the cost to rebuild. If you don’t have adequate coverage, your recovery will be limited, even with a partial loss.
Your rebuilding cost is not what you paid for the property, nor its market value, rather relates to the cost of the labor and materials needed to rebuild. Because those costs change over time, you should meet with your insurance agent periodically and update your coverage amount. The agents at Couri Insurance Agency have been helping clients in Waukesha and surrounding areas for over 40 years. They can advise you so you are appropriately covered.
Last year, the National Weather Service documented sixteen tornadoes in Wisconsin. Tornado wind speeds range from 40 miles per hour (F0) to over 300 miles per hour (F5). Know what to do and how to stay safe when severe weather hits. Before it hits, investigate your insurance coverage. The costs of property damage can be staggering.
Don’t leave yourself financially exposed. Call toll-free (800) 571-0248 or stop in to discuss tornado coverage. We are located at 379 West Main Street Waukesha, WI 53186.