Insurance policies in Florida may have several different deductibles depending on your coverage. It’s important to review your policy terms carefully to understand your financial obligations as certain deductibles can set you back significantly, especially if you aren’t prepared. Deductibles like named-storm deductiblesand wind and hail deductibles can be particularly confusing to homeowners in Florida. Here are a few things to take note of when it comes to wind and hail deductibles.
When Does a Wind and Hail Deductible Apply?
A wind and hail deductible is a specific type of deductible in some homeowners insurance policies that applies to damage caused by windstorms and hail. This deductible is separate from the standard deductible that applies to other types of covered perils. It’s also different from a named-storm or hurricane deductible. Wind and hail deductibles are only triggered by wind and hail damage.
If a storm has been named by the National Weather Service (NWS) or the National Hurricane Center (NHC), you can expect your named-storm deductible to apply. If you sustained wind damage but the storm system was not named by the NWS, the wind and hail deductible would generally apply.
How Much are Wind and Hail Deductibles?
Similar to named-storm deductibles, wind and hail deductibles are typically a percentage of the home’s insured value. Common percentages range from 1% to 5% or even higher. For a home insured for $400,000 with a 2% wind and hail deductible, the homeowner would need to pay $8,000 out-of-pocket before insurance coverage would kick in. It’s prudent for Floridians to prepare for the financial impact of wind and hail deductibles by setting aside funds to cover the higher out-of-pocket costs in the event of a claim.
We also suggest engaging an attorney early if you suspect wind or storm damage, as some insurers may try to deny your claim stating that the damage is either not wind-related or is from a previous storm so it should not be covered.
To protect yourself from this type of fraudulent behavior, arm yourself with legal representation from the outset. If you plan to file a wind claim, call us first at Kandell, Kandell & Petrie Law Firm. We have been helping homeowners with their hurricane and other property damage claims since 2004. Let us help ensure you receive the financial relief you deserve for your insurance claim in Florida.
