30Jul
2019

FAQ About Florida Hurricane Deductible

FAQ about Florida Hurricane Deductibles

With the frequency of hurricanes and tropical storms in Florida, it’s important to consider the limitations to your policy and your Florida hurricane deductible before a disaster occurs. To prepare your coverage and answer any questions about how you may be covered, consider some of these top questions about your current insurance policy:

What is a deductible?

A deductible is the amount of damage that must occur before your policy takes effect.  For example, if you have a $2,500 deductible, you are responsible for the first $2,500 of damage to your property.  In this scenario, if you had $10,000 in damage, you are entitled to insurance benefits in the amount of $7,500. If you had $2,000 in damage, you would not receive any benefits from your insurance company.  If you receive a letter from your insurance company indicating that your damage is under your deductible, you should contact an insurance lawyer at Jenkins Law P.L. immediately for a free consultation.

What conditions trigger my hurricane deductible?

Various windstorms resulting in hurricane conditions as defined under the National Weather Service triggers the Florida hurricane deductible under your insurance policy. Damage that occurs within 72 hours of the watch or warning are all included under hurricane conditions. 

What is a hurricane deductible?

A Florida hurricane deductible is a percentage of the dollar amount of coverage for a building or dwelling. If you have liability coverage of $200,000, a 2% deductible is $4000, and a 5% hurricane deductible is $10,000. 

You as a property owner will be responsible for determining the deductible amount before the insurance company pays for the covered damages. Deductibles are usually subtracted from a claim payment before any check is delivered. 

Is it possible to lower my deductible?

Yes, lowering your Florida hurricane deductible usually results in higher annual premiums.  You should contact your insurance agent to learn more about lowering your deductible. 

Contact Jenkins Law P.L. today for a free consultation about your specific case!