Is A Hurricane Deductible Applicable With Your Insurance?

​Most home insurance covers wind damage. It includes hurricane-force winds. However, there are some states where such coverage is not included. States like Texas allow homeowners to buy separate windstorm insurance instead of including it in a prepared policy. 

But, in the last few decades, home insurance companies are transferring the financial responsibility to homeowners for hurricane-related damages. 

After Hurricane Andrew in 1992, insurance companies offered special hurricane deductibles. It reduces the financial risk on the part of the insurance company. A decade later, when Hurricane Katrina devastated numerous states, insurance companies were triggered to transfer the financial risk even more. 

Here are some of the hurricane deductibles you will encounter when applying for home insurance. 

• If you have a house fire, you will pay the amount of the regular deductible toward repairs.
• You could have a higher hurricane deductible in some states—say, 10% of your dwelling coverage, which would be $40,000 on a house that's insured for $400,000.

Insurance companies may use hurricane deductibles that are either a set amount or a percentage. It varies from 1% to 5% of the home insurance value. In some states with greater wind risk, these rare are 10 higher. 

Hurricane deductibles can be applied to wind and rain damage. It should be a direct result of a hurricane. For instance, if rain comes through a hole in the roof caused by a storm. The roof and water damage may be subject to a hurricane deductible depending on your policy.

In addition to hurricane deductibles, you might find that the insurance company has a hail or windstorm deductible. These apply to wind and hail damage not caused by "named storms" like hurricanes.

Hurricane deductibles are triggered when the U.S. National Weather Service, National Hurricane Center, National Oceanic, and Atmospheric Administration named hurricanes, tropical storms, or windstorms. Naming storms means these organizations associate a number or a name to a specific storm.

At Robert Nichols Insurance Group, we do our best to ensure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (561) 406-6153 or Click Here t to request a free quote.