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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?
Posted on 7/9/14 at 7:30 am to Phate
Wonder if you can buy deductible insurance?
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 7:35 am to Phate
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 on 7/9/14 at 7:36 am to jtmiller02
If you can afford a 2 million dollar home, you should be able to fix the roof.
Posted on 7/9/14 at 7:42 am to yellowfin
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 on 7/9/14 at 7:55 am to jtmiller02
quote:
How about a $2,000,000 home,
if I had a two million dollar home I would be an poor ot-er
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 8:09 am to Breesus
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 on 7/9/14 at 8:14 am to Fusaichi Pegasus
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 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 8:16 am to Elusiveporpi
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 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 8:24 am to yellowfin
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 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.
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