Hurricane season lasts from June 1st through November 30th. Do you understand how hurricane damage affects your homeowners insurance? Almost five years after Superstorm Sandy, one third of homeowners in several coastal states are still unaware of hurricane deductibles and how they work, according to The Insurance Research Council (IRC).
Homeowners in New Jersey, North Carolina, South Carolina, Florida and Texas were asked whether they were familiar with hurricane deductibles, which is a higher deductible found in homeowners insurance policies that applies when a hurricane occurs.
Understanding the details of the hurricane deductible will help avoid financial surprises should your home be damaged by a hurricane.
- Which states have hurricane or windstorm insurance deductibles?
- Why were these deductibles introduced?
- When does the hurricane insurance deductible apply?
- How are hurricane and windstorm deductibles different from regular deductibles?
- When would I pay one of these deductibles?
- How do I calculate my hurricane insurance deductible?
Homeowners in high-risk hurricane areas should review their insurance policies so they know how much they may have to pay toward their hurricane storm insurance deductible in the event of a storm.
Call us at Suburban Brokers and we’ll be more than happy to discuss your policy with you, or quote you a policy if you don’t already have one with us.
Be safe this summer.