Many homeowners are unaware of the significant difference in deductibles their homeowner’s policy may carry for wind damage versus hurricane damage. Nor do they realize that a hurricane damage deductible may be triggered by the presence of a storm elsewhere in the state.
Our Miami storm damage attorneys encourage homeowners dealing with significant damage claims to consult our office for a free consultation. Policies can be confusing, often intentionally so, and homeowners cannot always expect to be treated fairly by their insurance company.
As we reported on our Florida Insurance Claim Lawyer Blog, the passage of Tropical Storm Bonnie marks the real beginning of the 2010 South Florida storm season. Understanding your policy deductibles can help you understand your economic exposure in the event of a serious storm. Doing so now may even allow you to make changes. Once the Florida Peninsula falls into the path of a tropical storm or hurricane, it will be too late; polices cannot be issued or changed until after a storm passes.
In general, a homeowner usually has very manageable deductibles for wind damage, often just $500. But hurricane deductibles of 10 percent are common, which would be $20,000 on a $200,000 house.
What even fewer homeowners realize is that an insurance company may apply a hurricane deductible to wind damage that occurs elsewhere in the state. For example, a hurricane in Miami that spawns a tornado in Fort Myers, will result in a hurricane deductible. By law, the issuance of a hurricane watch or warning by the National Weather Service puts all properties in the state under hurricane deductibles.
Additionally, the hurricane deductible is in effect up to 3 days after a storm. When the length of the pre-storm watch is taken into account, homeowners may be subject to hurricane deductibles for nearly a week at a time during the threat of a hurricane.
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If you are facing a dispute over an insurance claim in South Florida, contact Alvarez & Barbara, LLP toll free at 866-518-2913 for a free and confidential consultation to discuss your rights.