How do you know about the hurricane deductibles

Editor’s note: This column has been updated Nov. 1, to reflect on hurricane deductibles published by the New York governor’s office a statement

By the hurricane Sang Di homeowner may be higher than their expectations hook out-of-pocket costs and more. This is because their hurricane deductibles are likely higher than their standard home owner insurance deductibles.

Standard homeowners policy deductible is usually $ 500 or $ 1,000, according to the Insurance information Institute. However, the hurricane deductible is the insured value of the home of 1-5%. They can even higher in some coastal areas of high risk, according to I.I.I. Therefore, homeowners whose HOUSe the insured, for example, paid $ 200,000 before deducting 5%, will have to pay the insurance kicks repair costs $ 10,000 pocket.

Eighteen states and the District of Columbia allow the insurance companies, including the hurricane deductible on their policy. The state of Alabama, Connecticut, Delaware, Florida, Georgia, Hawaii, Louisiana, Maine, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island Carolina, South Carolina, Texas and Virginia. If you live in one of these states, check your policy declarations page for your hurricane deductible details. Whether it is suitable for requirements depend on the insurance company to choose a specific trigger, according to I.I.I. triggers can vary by state and insurance companies.

Ernor of New York Governor Andrew M. Cuomo announced November 1, in the state’s homeowners will not have to pay deductibles damage caused by Hurricane Sandy. New York State Department of Financial Services, told deductible insurance companies should not be triggered because Sandy did not last hurricane force winds when it made land in New York. The department will also send its mobile command center hit areas to help people with insurance questions and problems.