After the eye passes: What insurance won’t do
The destruction wrought by a hurricane does not necessarily end with flood waters retreating, often marking just the beginning of a slow and vexing recovery from the storm’s effects. Death and taxes aren’t the only certainties in life, not by a long shot, at least if you’re a resident of Florida who’s filed a claim for hurricane damage and attempted to recover a percentage of your loss following the terms and coverage limits of your insurance policy. Although insurance is supposed to provide protection, the fact is that many homeowners encounter unexpected road bumps in their quest to tap the support they have already paid for. One of the most confusing aspects of a hurricane claim in Florida is the deductible format. While typical insurance claims come with fixed deductibles, hurricane deductibles are computed as a percentage of the insured value of a home, usually falling between 1% and 5%. That means even moderate damage may not trigger the threshold for reimbursement, leaving ...