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Started By
Message
State Farm hurricane deductible jumps to 5%
Posted on 7/9/14 at 7:15 am
Posted on 7/9/14 at 7:15 am
This means a $10,000 deductible on a $200,000 home. Might as well set the thing on fire if anything were to happen to it..........
What are the huricane deductibles for other insurance companies?
What are the huricane deductibles for other insurance companies?
16
Posted on 7/9/14 at 7:16 am to Elusiveporpi
Farm Bureau 2%
Posted on 7/9/14 at 7:29 am to Elusiveporpi
Mine is $1,000 with ASI
Posted on 7/9/14 at 7:32 am to Elusiveporpi
How about a $2,000,000 home, $100,000 deductible, most people consider a total loss where you get a $1.9 million check. They forget that roof damage etc could mean writing a check for $100,000 out of pocket.
Posted on 7/9/14 at 8:01 am to Elusiveporpi
quote:
This means a $10,000 deductible on a $200,000 home
Correct
quote:
Might as well set the thing on fire if anything were to happen to it..........
Wow. Are you that poor and pathetic?
Posted on 7/9/14 at 8:16 am to Elusiveporpi
Sadly with the value of homes increasing along with building materials the insurance companies i would think have to raise deductibles. I have a $5k deductible and it goes to that plus $2% of policy limits for a named storm. I set the $5k deductible to get rates down and honestly if i have less than $10k in damage i wouldn't make a claim anyway. That will just drive up your premiums. I know several people that make claims almost every time we get any kind of storm yet they bitch about how their insurance keeps increasing 
Posted on 7/9/14 at 8:17 am to Elusiveporpi
Progressive will offer a $1000 deductible as well. So will Safeco and a few others. You have to read your mail from your insurance company very carefully because they'll frick you when they can. Insurance must be switched from time to time in order to maintain a fair rate & coverage amount.
Posted on 7/9/14 at 8:24 am to Elusiveporpi
Standard is 2%
Some companies will allow a flat deductible that matches the AOP deductible
Gulfstream has an aggregate deductible
Also depending on company the non AOP deductible can either be wind/hail, named storm, or hurricane these are different
Some companies will allow a flat deductible that matches the AOP deductible
Gulfstream has an aggregate deductible
Also depending on company the non AOP deductible can either be wind/hail, named storm, or hurricane these are different
Posted on 7/9/14 at 8:25 am to Elusiveporpi
Does this affect people that have already had the lower % locked in? I'm going to check my next statement either way.
Posted on 7/9/14 at 8:37 am to Elusiveporpi
Farm bureau is 2%.
It all depends on where you live right now whether you can get wind and hail coverage through a company or through the citizens program.
It all depends on where you live right now whether you can get wind and hail coverage through a company or through the citizens program.
Posted on 7/9/14 at 8:41 am to Elusiveporpi
No big deal, when the big one comes like it did in aught five, they'll just claim flood and make the Feds take the liability. The check will say State Farm, of course.
Posted on 7/9/14 at 9:27 am to Elusiveporpi
quote:
Mine is $1,000 with ASI
Posted on 7/9/14 at 10:55 am to Elusiveporpi
2% with Liberty Mutual
FWIW, I heard that SF is slowly attempting to work their way out the Gulf Coast states
FWIW, I heard that SF is slowly attempting to work their way out the Gulf Coast states
Posted on 7/9/14 at 11:20 am to Elusiveporpi
I just found this out. Also my agent is going crazy in that they can no longer write in Ponchatoula and Springfield. I am getting ready to switch everything to USAA.
Posted on 7/9/14 at 11:24 am to Elusiveporpi
Earthquake insurance in SoCal is WAY worse!
Posted on 7/9/14 at 4:08 pm to Elusiveporpi
Not only did they increase the hurricane deductible from 2% up to 5%, they did not lower the rates accordingly and the rates actually went up. AND, they didn't even advise the homeowners that they were doing it. You found out when you got your insurance renewed and received your policy.
Pretty crappy of them. It's clear they are wanting to get out of the market in the gulf states. I get them doing it, but not even a phone call from your agent letting you know it was coming so you could shop around?
And it's not all big companies doing it, most are at 2%.
Pretty crappy of them. It's clear they are wanting to get out of the market in the gulf states. I get them doing it, but not even a phone call from your agent letting you know it was coming so you could shop around?
And it's not all big companies doing it, most are at 2%.
Posted on 7/9/14 at 4:10 pm to Elusiveporpi
No named storm deductible with Safeco. Just the regular one.
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