Understand your deductiblesStandard homeowners insurance covers wind and hail damage from storms and hurricanes. For instance, whether a hurricane deductible applies to a claim depends on the specific “trigger" selected by the insurance company. Hurricane deductibles are generally higher than traditional dollar deductibles and usually take the form of a percentage of the policy limits. For example, in Florida, most insurance policies have a hurricane deductible of 2% to 10% of a home’s insured value. Homeowners are typically able to raise their standard homeowners deductible, but they don’t always have that option with a percentage deductible, Worters said.

Source: Wall Street Journal September 19, 2023 15:23 UTC