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MsKlutz
LIF Zygote
Member since 9/12 11 total posts
Name:
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Question about the storm and homeowners insurance
I am so worried about this storm and the damage it might cause. I know my hurricane deductible is enormous so I am just wondering if my house is damaged during this storm, would the hurricane deductible apply? I have state farm if that makes a difference.
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Posted 10/26/12 2:42 PM  |
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alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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Question about the storm and homeowners insurance
You have to read your policy. Some are classified as hurricane and soem are named storm.
A named storm would include a tropical store. Hurricane would only cover a cat 1-5 hurricane.
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| Posted 10/26/12 3:59 PM |
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MsKlutz
LIF Zygote
Member since 9/12 11 total posts
Name:
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Re: Question about the storm and homeowners insurance
Thanks! I'm not sure exactly what my policy states. 
Does anyone here happen to have state farm and know the answer to this?
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| Posted 10/26/12 4:23 PM |
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Re: Question about the storm and homeowners insurance
Posted by MsKlutz
Thanks! I'm not sure exactly what my policy states.
Does anyone here happen to have state farm and know the answer to this?
We do. I called our agent last year on this. From what I recall, if we have a hurricane, we're screwed because it's like $10K or something in terms of deductible.
If it's a storm, it's not as bad. I want to say like $1K.
So while it sucks to have ANY damage, it's better to have damage from a storm.
As an aside, a couple years ago some of my ILs neighbors had major damage during one of these storms. It was a home that was a rental unit and the people ended up moving out because it takes a LONG time to collect from your HO policy to get needed repairs done.
I hope none of us experience anything bad!!!
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| Posted 10/26/12 4:50 PM |
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Cheeks24
Living a dream
Member since 1/08 8589 total posts
Name:
Cheeks
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Question about the storm and homeowners insurance
Each policy can be different. Just look at yours. We have a deductible too but it isn't anywhere near $10k.
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| Posted 10/26/12 11:51 PM |
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MsKlutz
LIF Zygote
Member since 9/12 11 total posts
Name:
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Re: Question about the storm and homeowners insurance
Thanks everyone!
I ended up calling state farm to find out for sure. In case anyone else is wondering, it is determined when the storm actually hits land in NY. If it is still classified as a hurricane when it hits, then the hurricane deductible applies. If it is downgraded to a tropical storm by the time it hits NY, then the hurricane deductible doesn't apply. I was told by the agent that you can't change the amount of your hurricane deductible. He said the policy for hurricanes changed after Katrina and deductible amount is the same on every policy (it is a percentage of your homes value).
I'm just hoping the storm isn't bad and maybe it will be downgraded before it hits NY.
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| Posted 10/27/12 3:59 PM |
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Shorty
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Member since 5/05 30390 total posts
Name:
really
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Re: Question about the storm and homeowners insurance
state farm team member here... sustained winds of greater than 74 mph = hurricane deduc.
fingers crossed for a t.s.!
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| Posted 10/27/12 9:13 PM |
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Question about the storm and homeowners insurance
Some carriers call for the hurricane ded if it's a Cat 2 some, Cat1. Some carriers are writing without hurricane deductibles now depending on where you are located.
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| Posted 10/28/12 1:29 PM |
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Re: Question about the storm and homeowners insurance
You can also go to the State Farm website and see your policies.
I just did that and mine is 5%. Still around $11K for hurricane so I was off by $1000  .
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| Posted 10/28/12 9:06 PM |
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Smileyd17
kids
Member since 5/05 20997 total posts
Name:
Mommy
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Re: Question about the storm and homeowners insurance
Update- State Farm has waived the Hurricane deductible and any claims will be the basic deductible.
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| Posted 11/2/12 10:35 AM |
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