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State Farm hurricane deductible jumps to 5%

Posted on 7/9/14 at 7:15 am
Posted by Elusiveporpi
Below I-10
Member since Feb 2011
2575 posts
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?
Posted by Skeeter 79
Prairieville, LA
Member since Nov 2007
2225 posts
Posted on 7/9/14 at 7:16 am to
Farm Bureau 2%
Posted by Phate
Baton Rouge
Member since Mar 2006
11724 posts
Posted on 7/9/14 at 7:29 am to
Mine is $1,000 with ASI
Posted by Fusaichi Pegasus
Meh He Co
Member since Oct 2010
14566 posts
Posted on 7/9/14 at 7:30 am to
State Farm - Thug POS
Posted by Bullfrog
Institutionalized but Unevaluated
Member since Jul 2010
56270 posts
Posted on 7/9/14 at 7:30 am to
Wonder if you can buy deductible insurance?
Posted by StinkBait72
Member since Nov 2011
2057 posts
Posted on 7/9/14 at 7:31 am to
quote:

Mine is $1,000 with ASI
Posted by jtmiller02
Member since Jan 2013
114 posts
Posted on 7/9/14 at 7:32 am to
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 by Elusiveporpi
Below I-10
Member since Feb 2011
2575 posts
Posted on 7/9/14 at 7:35 am to
quote:

Mine is $1,000 with ASI


I will have to look into this, 5% is not going to swing it for me, thats for sure.
Posted by yellowfin
Coastal Bar
Member since May 2006
97647 posts
Posted on 7/9/14 at 7:36 am to
If you can afford a 2 million dollar home, you should be able to fix the roof.
Posted by Dingeaux
Baton Rouge
Member since Nov 2005
4934 posts
Posted on 7/9/14 at 7:42 am to
Allstate did it several years ago. I had to leave them. I have Safeco and have had no problems. My house flooded this year (not weather related) and they handled the situation well.
Posted by ksayetiger
Centenary Gents
Member since Jul 2007
68314 posts
Posted on 7/9/14 at 7:55 am to
quote:

How about a $2,000,000 home, 


if I had a two million dollar home I would be an poor ot-er
Posted by Breesus
House of the Rising Sun
Member since Jan 2010
66982 posts
Posted on 7/9/14 at 8:01 am to
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 by Elusiveporpi
Below I-10
Member since Feb 2011
2575 posts
Posted on 7/9/14 at 8:09 am to
quote:

Are you that poor and pathetic?


WoW, you are obivious to the point

Poor yes, Pathetic, no

Who would drop 10,000 when they could get different insurance and only pay 1,000 for the same coverage.

But you can go ahead and waste 10K MR. BALLER if you were faced with this situation.
Posted by Isabelle
Member since Jul 2012
2726 posts
Posted on 7/9/14 at 8:14 am to
We had to drop State Farm because they are no longer writing coverage in New Orleans. Guess that's good. Our flood insurance is less in New Orleans than it was in Baton Rouge.
Posted by bayoudude
Member since Dec 2007
24958 posts
Posted on 7/9/14 at 8:16 am to
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 by yellowfin
Coastal Bar
Member since May 2006
97647 posts
Posted on 7/9/14 at 8:16 am to
You'll have that 1k deductible with a smaller company for a couple years then they'll follow the lead from the larger ones.
Posted by BeerMoney
Baton Rouge
Member since Jul 2012
8376 posts
Posted on 7/9/14 at 8:17 am to
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 by ThePoo
Work
Member since Jan 2007
60611 posts
Posted on 7/9/14 at 8:24 am to
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

Posted by Elusiveporpi
Below I-10
Member since Feb 2011
2575 posts
Posted on 7/9/14 at 8:24 am to
quote:

You'll have that 1k deductible with a smaller company for a couple years then they'll follow the lead from the larger ones.


I can see this happening.

Even if it were a little more, say 3-4k wouldnt be bad, but I couldnt handle 10k very well.
Posted by Brageous
Member since Jul 2008
107724 posts
Posted on 7/9/14 at 8:25 am to
Does this affect people that have already had the lower % locked in? I'm going to check my next statement either way.
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