FORT WAYNE, IND. (WOWO) Homeowners facing tornado damage may still face significant out-of-pocket costs, even with insurance coverage.

Across much of the U.S., policies in tornado-prone areas now often include wind and hail deductibles, which typically range from 1% to 5% of a home’s insured value. That means a 1% deductible on a $300,000 home could cost $3,000, while a 5% deductible could total $15,000. Policyholders can often negotiate the percentage with their insurance agent, according to AP.

Mark Friedlander with the Insurance Information Institute says many homeowners mistakenly assume their car is protected under their home policy. Vehicles require comprehensive coverage through auto insurance, even if parked in a garage that is damaged during a storm.

Flood damage is also treated differently. Roof leaks from storm damage are generally covered, but flooding from overflowing streams or flash floods requires a separate flood policy, which only about 6% of U.S. households carry.

Friedlander also recommends reviewing your policy to ensure replacement costs reflect current construction prices. “You need to understand your policy — you don’t want to be surprised after a storm,” he said.

Regularly reviewing coverage with your insurance agent can help homeowners avoid unexpected financial strain after tornadoes and severe weather events.