Navigating Insurance Changes: Wind and Hail Coverage in MO & IL
As severe weather events like hailstorms, tornadoes, and high winds become more frequent across the Midwest, many insurance companies are updating their coverage policies. Reviewing your policy carefully – and understanding any recent changes — before renewing for another year is critical to ensure you’re adequately protected.
What’s Changing with Wind & Hail Coverage?
Percentage Deductibles
The most significant change that affects homeowners is the mandatory 1% wind and hail deductible. Several insurance companies in both Missouri and Illinois have switched from a flat deductible to a percentage one. This means you’ll be responsible for paying 1% of your home’s insured value prior to insurance covering damage from wind and hailstorms instead of paying a fixed-dollar deductible.
Premium Increases
According to the Missouri Department of Commerce & Insurance, severe weather is causing a continual rise in homeowner insurance premiums. They encourage residents to regularly review their homeowner policies and if needed, shop around for better rates. Ask your insurance agent if premium discounts are available for:
- Buying home and auto insurance from the same company
- Being a longtime customer
- Buying wind and hail resistant roof shingles
Coverage Reductions
Coverage is tightening as climate change, more severe storms, and new reinsurer pricing strategies take effect. Some insurers are excluding items like metal trims and doors and limiting coverage for older roofs. Many are also shifting from replacement cost to Actual Cash Value (ACV) for older roofs, lowering potential claim payouts.
Insurers Leaving MO & IL
Some insurance companies are canceling policies, choosing not to renew, or will no longer issue new policies in Missouri and Illinois.
Be Proactive During Policy Renewal
Many insurance carriers are introducing percentage-based deductibles at renewal time. Although it’s not universal, many homeowners in Missouri and Illinois may notice these changes when renewing their policies. That’s why it’s essential to look beyond just premium costs. Take time to review your policy, understand the new deductibles, and confirm that your coverage still provides strong storm protection for your home.
A Real-Life Customer Example
We recently worked with a homeowner from Chesterfield who filed a claim for severe wind damage — only to face an unexpected financial setback due to his policy’s deductible structure. This is a perfect example of why it is critical to know what your coverage is prior to filing a claim. His total damages amounted to $18,632.36, but his policy had a 2% deductible, which equated to $8,057.84. After depreciation and calculations, the insurance company essentially said: “We’ll cover $18,632.36, but you owe us $8,100.43.”
Since deductibles apply before payout, the homeowner ultimately received $0 — a frustrating outcome that could have been avoided with better policy awareness. Fortunately, 1st Choice stepped in, worked with the insurer, and secured supplemental funds for overlooked damages, recovering over $2,000 for the homeowner.
The lesson? Always review your policy or consult with a reputable company like 1st Choice before filing a claim to avoid costly surprises.
How Our Smarter Claims Process Puts You First
Understanding your wind and hail insurance coverage is crucial, and 1st Choice Construction is here to help make the claims process smoother and smarter. We start by documenting and prioritizing all damages, ensuring no detail is overlooked. Together, we’ll review materials, selecting the ideal style, color, and quality from our inventory. An initial price estimate will be prepared, and our experienced project managers will work directly with your insurance company to finalize costs, which are based on your insurer’s replacement cost value.
Typically, insurance carriers split payments into two installments and may include your mortgage company on one. With 1st Choice, you’ll have expert guidance every step of the way, ensuring your home is restored efficiently and effectively.
Safeguard your home from storm damage by making informed choices and selecting a reliable roofing company. Contact 1st Choice Construction for a free estimate today.
