A home is one of the most valuable assets one can have, yet it is also one of the most costly to fix. Capretta Insurance Agency aims to provide some tips that will help Parma, OH homeowners gain a better understanding of the home and the cost of major home repairs when you don’t have insurance. 

The High Cost Of Home Repair

The Cost of a Natural Disaster

Ohio is no stranger to natural disasters. From floods to tornadoes, we are often hit with weather that can cause damage to our homes and businesses. In fact, we spent over $434 million on natural disaster damages over the ten years between 2008 and 2018. Tornadoes accounted for the most damage, but other disasters such as landslides and heavy snow made up massive portions of the damage as well.

American homeowners spend an average of $6,020 on home repairs after a landslide. That number increases to $7,000 after a tornado. The median cost of fire repairs is a whopping $10,000. And these are just the averages across the country. Costs can always increase depending on the severity of the damage. Also, these numbers do not account for the cost of dual-disasters, such as when your home is damaged by a tornado and then catches fire.

Home Insurance Can Cover The Cost of Repairs After Some Natural Disasters

It’s important to know what perils your homeowner’s insurance covers. If your home is damaged by a tornado, fire, or winter storm, your policy might not cover the full cost of repairs. This means you’ll be stuck with the remaining balance. It’s even more expensive if you don’t have insurance at all.

Give Us A Call

Capretta Insurance Agency wants to help you understand your policy and what you can do to protect your home. If you’re a Parma, OH homeowner, contact us today.