The risk of tornado activity in the Fort Payne area is 119% greater than the national average. To date, 110 tornadoes of a magnitude of F2 or greater have occurred in or near this city. Among the most destructive was an F4 twister that touched down about two miles from the Fort Payne city center in 1973. This storm caused about $2.5 million in damage in a 5.4-mile path of destruction.
Because tornadoes can be so destructive, it is important that you insure your valuable property with the right kinds of coverage. An independent insurance agent in Fort Payne can help you be certain that the policies you currently carry include a sufficient amount of tornado insurance.
What Is Tornado Insurance and How Much Does It Cost in Fort Payne, AL?
Certain hazards, like earthquakes and floods, require property owners to purchase supplemental insurance policies in order to be covered. However, coverage against tornadoes can be obtained through the policies you already have.
Because there is no such thing as a stand-alone tornado insurance policy, there is no way to say how much tornado insurance costs. The risk of tornado damage where you live is just one of the many factors that go into calculating rates for the various insurance policies you may already carry.
Whether you have homeowners insurance, renters insurance, car insurance, or business insurance, a local independent insurance agent can help you be sure that your policy provides adequate protection against tornado damage.
How Does Homeowners Insurance Cover Tornado Damage in Fort Payne?
A tornado doesn’t need to have an EFT rating of at least 2 to significantly damage your house. Even a weaker F0 twister can pack quite a punch.
Whether you are looking at a roof that has lost a few shingles or a total loss, if a tornado has damaged your house, you can expect that your homeowners insurance will cover you. Be aware, however, that if you carry a named-peril policy, you must specifically request tornado coverage in order to be covered.
Your homeowners insurance policy can help you manage losses caused by a tornado through three different types of coverage.
- Homeowners dwelling insurance: This covers damage to the structure of your house if it is caused by a tornado or other covered event. In the worst case, if a twister flattens your house, this coverage can pay for the cost to build a new home of comparable size.
- Homeowners contents insurance: This is designed to cover loss and damage to your personal property if it is caused by a covered event such as a tornado, fire, or theft.
- Homeowners loss of use insurance: If a tornado or other hazard causes significant damage to your house, you may need to seek alternative living arrangements while repairs are made. Loss of use insurance can pay for expenses like hotel accommodations and meals until your house is repaired or rebuilt and it is safe to return.
A local independent agent can help you make sure that your dwelling and contents insurance coverage limits are high enough to fully cover your property if it is damaged by a tornado.
How Does Renters Insurance Cover Tornado Damage in Fort Payne?
As a renter, you can expect your landlord to cover the cost of repairing weather-related damage to your building. However, if a hazard like a tornado destroys your building’s roof or blows in the windows and your personal property is damaged by wind and rain, you will need to rely on your own renters insurance for coverage.
Renters insurance is extremely affordable. In Fort Payne, the average cost for coverage is about $26 a month. That means that for less than $1 a day, you can protect your property and be covered against tornado damage in two ways.
- Renters contents insurance: This is designed to cover loss and damage to your personal property if it is caused by a covered event such as a tornado, fire, or theft.
- Renters loss of use insurance: If a tornado or other hazard causes significant damage to the building you live in, you may need to seek alternative living arrangements while repairs are made. Loss of use insurance can pay for expenses like hotel accommodations and meals until your landlord brings the building back up to code and it is safe to return.
Talk to a local independent insurance agent to learn more about what renters insurance can do for you and for help finding an affordable policy.
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How Does Car Insurance Cover Tornado Damage in Fort Payne?
What if a tornado uproots a tree and it falls onto your car, destroying it? Or what if the windows and paint job are damaged by heavy winds and flying debris? Are you covered?
Be aware that your car insurance policy can provide coverage against tornadoes and other non-collision damages in two ways, but only if your policy includes some optional coverage.
- Comprehensive insurance: This is designed to cover the cost of repairing or replacing your vehicle if it is damaged or destroyed by a non-collision event like a tornado. Comprehensive coverage is required by lenders if you are still paying for your vehicle and by dealerships if you are leasing it. Otherwise, this insurance is optional.
- Gap insurance: This is designed to bridge the gap between what you currently owe on your car loan and your car’s depreciated value. That way, if your car is totaled by a tornado or other hazard, you will not still owe money for it after your insurance company reimburses you for your loss. This coverage is typically only needed for the first two or three years of new-vehicle ownership.
To learn more about these coverage options and to discover how much it will cost to add them to your car insurance policy, you can talk to a local independent insurance agent.
How Does Business Insurance Cover Tornado Damage in Fort Payne?
A comprehensive business insurance policy package can protect your business against tornadoes in many ways. Depending on the nature and scope of your business, you may want to make sure that your coverage includes the following.
- Commercial property insurance: This is designed to cover the cost to repair or replace your company-owned property if it is damaged by a covered event like a tornado.
- Inland marine insurance: This is designed to cover your company’s portable property if it is lost or damaged while it is in transit or while it is being stored away from your place of business, such as at a job site.
- Business interruption insurance: This is designed to provide a continuation of income during the times that your business must close down to make repairs following a covered event like a tornado. operations.
- Commercial vehicle insurance: This is designed to cover your company-owned vehicles. As with your own personal car insurance, this insurance will only cover against tornado damage if your policy includes comprehensive coverage.
- Spoilage insurance: This is designed to cover expensive property that can spoil if, for instance, the power goes out for an extended time, and your freezers and refrigerators warm to dangerous temperatures. While restaurants are the most obvious type of business that can use this coverage, companies like pharmacies, which have certain medications that must be stored at colder temperatures, can also benefit.
A local independent insurance agent can help you be sure that your Fort Payne business is fully covered against tornado damage. Your agent can also help you find competitively priced policies to cover against any other hazards your business may be exposed to.
How Can You Get Tornado Insurance in Fort Payne, AL?
If you have insurance policies to cover your valuable property, chances are good that you are already covered against tornado damage. Of course, it is never a bad idea to make sure. This is just one of the many reasons why talking to a local independent insurance agent can prove so helpful.
Independent agents live and work in your community, so they understand the risk that tornadoes present in Fort Payne. These agents can help you review your currently owned policies to ensure that they provide sufficient coverage against tornadoes as well as any other hazards you are likely to face in this city. They can also shop around to see if they can find you comparable or better coverage at a lower price.
Contact an independent insurance agent near you to learn more about tornado insurance.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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