Hurricane Season officially kicks off in June and now is the time to start reviewing your Homeowners Insurance, more specifically…Your Hurricane Deductible!
For years Florida Home Insurance Carriers had a standard 2% Hurricane Deductible, meaning your insurance carrier would not pick up the cost to a damaged home until you met your hurricane deductible. For example, if your home was insured at $200,000 your Hurricane Deductible would be $4,000 (200,000 times .02), so higher the home insurance value the higher the deductible.
Bob Dylan put it best “The Times They Are A Changin”, and they are changing for the best when it comes to Homeowners Insurance.
You can now buy Homeowners Insurance with Hurricane Deductibles options of $500 and $1,000. If you had a home insured at $200,000 and had the old hurricane deductible of 2% and sustained hurricane damage the insurance carrier would not pick up the cost to repair damage until you paid the first $4,000. With this new deductible option, you could pay as low as $500 for hurricane related damage. What’s even better is the lower hurricane deductible will only cost you a few extra dollars per month.
Don’t wait until after the storm passed to verify your Hurricane Deductible.
Barbee Jackson Insurance is a leading provider of Homeowners Insurance with clients throughout Florida, Georgia, and Alabama. Get the coverage you need and a deductible you can afford by calling us today (850) 389-2001. We will review your current coverage options and work with YOU to find the insurance deductible that best fits you budget.