Do I have the right insurance for hurricanes?
If you live in a coastal state, your homeowners’ insurance very likely has a higher deductible for hurricane damage. The deductible is the out-of-pocket amount you must pay before your insurance company pays the claim. Most policies have a standard (non-hurricane) deductible of $500 or $1,000. However, the deductible for hurricane damage is usually a percentage of the face amount of the policy. Example: Your home is covered for $300,000 with a 2% hurricane deductible. That means if you file a claim, you are responsible for the first $6,000, then the company pays.
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