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Check your insurance coverage as hurricane season arrives (HSH.com)

November 14, 2012 by  
Filed under Articles and Features

As we near the most active part of the Atlantic hurricane season, homeowners in coastal areas should take a closer look at their insurance coverage. Unlike traditional homeowners insurance, the windstorm or hurricane part of a policy carries a higher deductible that can be as much as 5 percent of the home’s value. Having the right insurance in place, and the funds to cover the deductible, can make a world of difference in recovering from a storm.

Hurricanes trigger higher deductibles

While traditional homeowners insurance policies often have a set deductible ranging from $500 to $5,000, hurricane deductibles are usually based on a percentage of the home’s value, says Michael Barry, vice president of Media Relations for the Insurance Information Institute. This often ranges from 1 to 5 percent. “It can really be a significant sum of money,” says Barry. “If your house is insured for $200,000, you would be on the hook for $10,000 before your insurance kicks in.”

Read the entire article at HSH.com.

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