Providers typically include a hurricane deductible in insurance policies for coastal homes. Most other insurance deductibles have a set dollar amount, but hurricane deductibles are set at a percentage of the home’s value.
That means if a house is valued at $300,000 and has a 5% deductible, the policyholder must contribute $15,000 out of pocket toward repairs or replacement before the policy begins paying. This applies only when a home is damaged or destroyed by a hurricane.
To see if your policy includes a hurricane deductible and how much it is, contact your insurance agent.
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