A surprisingly large deductible

With the volume of wind and hail damage claims we have had over the last few years, many Insurance companies have added a separate wind/hail damage deductible to their Homeowners’ Policies. I will not name any of the Companies (State Farm) but what this means is, a roof damage claim can come with a potentially very large deductible. The new deductible is a percentage deductible (typically 1-2%). The percentage is not a percent of the claim, but a percent of the Insured Limit of your home.

Let’s use the example of an Insured with a home with a replacement cost limit of $300,000. Their roof is damaged from a hailstorm and does $10,000 in damage. They have a $1,000 policy deductible, but a 1% Wind/Hail deductible. They will be responsible for $3,000 (1% of $300,000) of the loss and the Insurance company will cover $7,000.

Our companies are not requiring the percentage deductible. If you are interested in a free quotation, do not hesitate to call or email or simply click the button below:

posted by Dan Hebbeln: [email protected]