How Does Your Hurricane Deductible Work?

Your home is probably your most valuable investment, which is why you have a homeowners insurance policy to protect it. Home insurance deductibles are often a flat dollar amount, such as $1,000, while wind, named storm, and hurricane deductibles are typically a percentage of your home’s insured value.

Florida insurers must offer hurricane deductible options of $500, 2%, 5%, and 10%. In some instances, deductibles can exceed 10%. Florida also has a “single season hurricane deductible,” which means you’re only responsible for one hurricane deductible during a given hurricane season, even if your home is hit by multiple storms. Once you’ve met your hurricane deductible, the general deductible on your policy will apply for any subsequent hurricane claims.

When Does Your Hurricane Coverage Begin?

  • Coverage starts when a hurricane watch or warning is issued by the National Hurricane Center for any part of Florida.
  • However, if there is not a named hurricane at the time that the watch or warning is issued, coverage does not begin until the storm becomes a named hurricane.
  • Coverage ends 72 hours after the last hurricane watch or warning is lifted by the National Hurricane Center for any part of Florida.

It is important to insure your home against the two main sources of hurricane damage: water and wind. You may need separate water and wind policies to ensure proper hurricane coverage:

1. Flood Insurance – Homeowners insurance does not cover flood, including water from a storm surge. To get coverage, flood insurance is required.

2. Windstorm Insurance – Not all homeowners insurance policies pay for windstorm damage, especially in hurricane-prone states. If you live in one of these states and want coverage, a separate windstorm insurance policy may be available for purchase.

Click here for a free review of your homeowner’s policy and to discuss your flood and wind options.