Hurricane Deductible
What Does Hurricane Deductible Mean?
A hurricane deductible is the amount a home insurance policyholder is responsible for paying out of pocket in the event of a hurricane. This amount must be covered by the policyholder before the insurance company will pay for any losses. Multiple deductibles may be attached to a policy, and they can either be fixed or based on a percentage of the insured amount.
Insuranceopedia Explains Hurricane Deductible
A hurricane deductible is typically calculated as a percentage of a home’s insured value, usually ranging from 1% to 5%. Homeowners who install hurricane-resistant glass panels for doors and windows may qualify for a reduced premium on their homeowners’ insurance policy. However, policyholders should be aware that even if a house is covered for hurricanes, the policy may not include coverage for flooding.
