Suppose your home is located in a risky area that has high risks of a hurricane. In that case, you need to double-check your home insurance terms and policies for getting the exact details about deductibles related to hurricane-related loss or damage.
This is not added as a flat dollar amount to your insurance policies but an appropriate percentage of the value of your home, and it can add up a financial burden that you will bear if your home/house becomes damaged in a hurricane.
When the Hurricane Home Insurance Deductible Applies
It is only applicable to storm damage categorized as hurricanes by the U.S. National Hurricane Center or National Weather Service. A windstorm deductible is also applicable but to any of the other wind damage, not the hurricane. Each insurance company has its own “trigger” – a trigger is basically an event that can help to invoke windstorm or hurricane deductibles.
How the Hurricane Home Insurance Deductibles Works
A standard policy for homeowners basically provides protection or security towards finance against disasters or any other loss on the home and its related content in the form of insurance. The amount of money that you need to pay for a loss before your company of insurance started to pay is called insurance deductible.
Moreover, homeowner insurance policies in hurricane expected areas are including windstorm and hurricane deductibles as a requirement for the properties but beyond the addition of regular deductibles. On the FMD LLC website, you can learn more about how to track your insurance deductibles.
When the Hurricane Home Insurance Deductibles Applies
If you will pay for a windstorm or hurricane deductible or not is dependent on the definition of your insurance company and their trigger event. These deductibles are only applicable in few circumstances that are usually described on your insurance contracts.
Triggers of hurricane insurance are varying among different states as well as among different insurers. That’s why it is essential for reviewing the details of hurricane insurance in your homeowner insurance policies. Always make sure that you have your essential and relevant document’s copies in your emergency bag that you always keep ready in any emergency case when you need to leave your home hurriedly.
These States have Hurricane Home Insurance Deductibles.
These 19 states, in addition to the District of Columbia, are comprising of some sort of windstorm or hurricane deductible: Texas, South Carolina, Rhode Island, Pennsylvania, North Carolina, New York, New Jersey, Mississippi, Massachusetts, Maryland, Maine, Louisiana, Hawaii, Georgia, Florida, Delaware, Connecticut, Alabama, Virginia, and the District of Columbia.
The Final Words
Hundreds of insurance companies started the addition of windstorm and hurricane insurance deductibles after getting experience from massive costs that were related to storms and hurricane in the early 2000s. Mostly, these deductibles are percentage-based and can increase the paying amount of homeowners. Homeowners must review their insurance policies if they live in a hurricane expected or windstorm risky area to get to know how much they would have to pay whenever a hurricane hits their home.