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Typical Homeowners policy Hurricane deductible? Mine is 5% on my State Farm Policy

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Typical Homeowners policy Hurricane deductible? Mine is 5% on my State Farm Policy

Old 10-31-2010, 02:54 AM
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Default Typical Homeowners policy Hurricane deductible? Mine is 5% on my State Farm Policy

this equates me to shelling out the first 15k in the event of a hurricane related loss...OUCH! Is this typical?

Last edited by striper97; 10-31-2010 at 11:41 AM.
Old 10-31-2010, 04:04 AM
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Down here in Louisiana, this became the norm after the storms of the last 8-10 years or so. They're calling it "named storm deductible". Personally, I was able to buy mine down to 1% of the value, which means that if a hurricane comes and tears down my home, I will actually pay less to replace or repair, than if anything else happened. My regular deductible is $5k, "named storm" is about $4K
Old 10-31-2010, 06:39 AM
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I think we are 2% with BoatUS for named storms
Old 10-31-2010, 11:25 AM
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Yes typical. Mine is the same. You can have a lower deductible and a higher premium if you like. They can certaintly arrange that.
Old 10-31-2010, 11:41 AM
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This is the policy on my house, not the boat...I should have been more specific considering this is a boating forum.
Old 10-31-2010, 12:04 PM
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I had mine changed from 2% TO 5% and it reduced my annual premium by $500.
Old 10-31-2010, 12:25 PM
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In IMO and friends that are attorneys that deal with insurance companies (know who pays and who is a PIA), State Farm is among the worst. Do yourself a favor and get a different insurance company.
Old 10-31-2010, 12:35 PM
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My dad has had State Farm forever-- 50+ years. For hurricane Gustav they waived the deductible, on his claim. Truth--- absolute truth! Suprised me to heck and back.


My deductible for Hurricane Gustav was 2.2% of insured value, I don't have State farm.
Old 10-31-2010, 03:24 PM
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This is my experience....

Market Value $100,000 (1,800 sq. ft. l.a.)
Insurance coverage (their book)...... $175,000
5% deductable (on 175k) - not market value
$8,750 before they pay any wind or hail claim
Guess what a roof would cost? In my area $4,500 (36 SQ. - 40 yr shingle) or $6,000 Metal
I would bet most insurance companies will be paying very few wind claims.

Based on the above I cancelled all of my State Farm and Farmers Insurance policies and am saving over 30k a year in premiums. Self insuring myself on wind and hail.

I am more than willing given the odds...
Lloyds of London is who my agent wrote my new policy.
Old 10-31-2010, 05:56 PM
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I think all the insurance companies suck. You can have a good experience with an insurance company and will also hear/read a good story here and there. I believe in general this is another industry controlled by corrupt politicians, lawyers and judges who are shoving "it" in the general public's ass. I had Chubb and when there was a claim due to an idiot contractor who plumber an ice machine and caused a flood that resulted in almost $100k worth of damage, I found them to be an absolute PIA. Chubb was supposedly the BEST insurance company. The agency I use dropped Chubb because other customers found them to be a PIA to deal with when there was a claim. The agency replaced Chubb with Fireman's Fund. I am now insured with Fireman's however have found them to also be a pain in the ass. They want a security system certificate. I told them the insurance agency has one on file. They called me a few times about this matter and I asked them what they wanted to do to prove I have alarm monitoring? They said they needed a certificate. I said you need to get one from either the insurance agency or the alarm company. They call me about two months later and say the certificate is outdated ( a few years of age) and they contacted the alarm company. I was like, congratulations on being a private detective and if you insist on keep bothering me about this you have the option to visit my residence and see for yourself the system is operational or cancel my policy and I will insure with another company. My security system is wired directly with the PD, NOT a third party company. The alarm goes off, the men in blue show up. Same with fire. A smoke alarm goes off, the fire trucks show up. The woman did not know what to say. I asked her if she wanted a cancelled check to prove I have security monitoring and she no, she needed the certificate and said she contacted the alarm company and they will see about getting her a certificate. I am all for diligence however I think some of these folks need to get a real life.
Old 10-31-2010, 07:43 PM
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Originally Posted by PROFINITY View Post
I think all the insurance companies suck.
But you still write a check for the premium. I don't care who you are, that right there is funny.
Old 11-01-2010, 02:45 PM
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I'm with State Farm and the regular deductible is 1% and the Hurricane/Named Storm deductible is 2%.

Originally Posted by twentynine View Post
My dad has had State Farm forever-- 50+ years. For hurricane Gustav they waived the deductible, on his claim. Truth--- absolute truth! Suprised me to heck and back.
State Farm waived the deductibles on my Katrina claims. They said it was pretty normal for them to do that it the damages exceeded the max payout of the policy.

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