Homeowners should reexamine their insurance every year, especially those living in areas highly affected by the tropical storm. They need to know if they fired the cost of premiums, deductibles, or if they have changed, or if they are eligible for the new discount.
This year is really important to do that because the storm is expected to be the most active year since 2012, according to estimates released by The Weather Company.
This storm is already affecting the southeastern United States. Tropical Storm Bonnie battered Carolina during Memorial Day weekend, and Colin, which made landfall Monday and resulted in a state of emergency was declared.
Colin is packed winds of 50 miles per hour to produce heavy rain, tornadoes and hail battered residents along Florida's Gulf and Atlantic coast. Residents protect their property using sandbags. Officials distributed 13,000 sandbags to residents of Tampa, which has a history of flooding. Some residents have been evacuated area.
This is why it is important to re-evaluate their homeowners insurance policy. Let us assume that the value of the replacement cost of the property is correct, homeowner's policy will cover damage caused by storm winds. However, it will not cover damage caused by flooding and homeowners should be aware of whether they have a hurricane deductible.
insurance companies sell policies with hurricane deductibles to limit their exposure to devastating storms. Typically, hurricane deductible is much higher than for a standard homeowners insurance policy. A total of 19 countries have a hurricane deductible, and most of them do not have a set dollar amount but a percentage of the replacement cost value of the home. It could be large depending on the damage.
Insurers do not choose to have a hurricane deductible. These deductibles are grouped in homeowners insurance to the discretion of the insurance company and enabled under the provisions of the policy, usually when the National Hurricane Center issued a tropical storm warning or name.
Insurance Information Institute this issue different deductibles storm across the 19 countries that have and posted on their website, or customers can refer to the respective state departments for insurance for details about them.
Countries with a special hurricane deductible covers: Alabama, Connecticut, Delaware, Florida, Georgia, Hawaii, Louisiana and others
This year is really important to do that because the storm is expected to be the most active year since 2012, according to estimates released by The Weather Company.
This storm is already affecting the southeastern United States. Tropical Storm Bonnie battered Carolina during Memorial Day weekend, and Colin, which made landfall Monday and resulted in a state of emergency was declared.
Colin is packed winds of 50 miles per hour to produce heavy rain, tornadoes and hail battered residents along Florida's Gulf and Atlantic coast. Residents protect their property using sandbags. Officials distributed 13,000 sandbags to residents of Tampa, which has a history of flooding. Some residents have been evacuated area.
This is why it is important to re-evaluate their homeowners insurance policy. Let us assume that the value of the replacement cost of the property is correct, homeowner's policy will cover damage caused by storm winds. However, it will not cover damage caused by flooding and homeowners should be aware of whether they have a hurricane deductible.
insurance companies sell policies with hurricane deductibles to limit their exposure to devastating storms. Typically, hurricane deductible is much higher than for a standard homeowners insurance policy. A total of 19 countries have a hurricane deductible, and most of them do not have a set dollar amount but a percentage of the replacement cost value of the home. It could be large depending on the damage.
Insurers do not choose to have a hurricane deductible. These deductibles are grouped in homeowners insurance to the discretion of the insurance company and enabled under the provisions of the policy, usually when the National Hurricane Center issued a tropical storm warning or name.
Insurance Information Institute this issue different deductibles storm across the 19 countries that have and posted on their website, or customers can refer to the respective state departments for insurance for details about them.
Countries with a special hurricane deductible covers: Alabama, Connecticut, Delaware, Florida, Georgia, Hawaii, Louisiana and others
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