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Started By
Message
re: Hurricane Deductibles
Posted on 9/3/21 at 8:55 pm to RealityTiger
Posted on 9/3/21 at 8:55 pm to RealityTiger
My previous insurance company was a flat $1000 deductible...new one is 1%, not quite as good but still better than 2%
1
Posted on 9/3/21 at 8:56 pm to RealityTiger
SF sent you a letter that you probably threw in the pile we all have. The letter informed you that your wind deductible would increase to 5% IF you didn’t contact SF and sign to keep it the previous deductible.
It was Legal but pretty damn shady since SF knew that most wouldn’t even read their letter much less call or sign to keep a lower deductible.
5% wind deductible almost never works out for the insured premium wise, I calculated my premium at 3% vs 5% and it took 14 years to break even with 5%.
They all suck but some suck less.
Insurance Agent Regards
It was Legal but pretty damn shady since SF knew that most wouldn’t even read their letter much less call or sign to keep a lower deductible.
5% wind deductible almost never works out for the insured premium wise, I calculated my premium at 3% vs 5% and it took 14 years to break even with 5%.
They all suck but some suck less.
Insurance Agent Regards
Posted on 9/3/21 at 8:56 pm to Bucktail1
No I changed to Geico 3 years ago. Now one thing I can’t tell you is how good or bad they are to deal with. Never had to file a claim and luckily didn’t have to this time.
Posted on 9/3/21 at 8:56 pm to LSUEEAlum
Named storm and hurricane deductibles are primarily based off roof year. You probably have a newer (2012 or newer) architectural shingle or metal roof?
5% or 10% deductibles get slapped on those older 3-tab shingle roofs.
5% or 10% deductibles get slapped on those older 3-tab shingle roofs.
Posted on 9/3/21 at 8:56 pm to LSUsmartass
1% looks a whole lot better than 5%.
Posted on 9/3/21 at 8:57 pm to Ingeniero
quote:
SageSure? Or whatever they call themselves? Pretty sure theirs is 2% too, that's who we have
Yep been dealing with SageSure as well. Have to meet the Outside Adjuster at my house for 7am. SageSure is just the 3rd party they outsource claims handling to and not the actual insurer.
This post was edited on 9/3/21 at 8:59 pm
Posted on 9/3/21 at 8:58 pm to EasternShoreTider
Yes, architectural shingle, built in 2013.
Posted on 9/3/21 at 8:58 pm to LSUEEAlum
quote:
My hurricane deductible is $1000.
do you live in a trailer
Posted on 9/3/21 at 8:58 pm to RealityTiger
I wasn't being aggressive.
But it's pretty sine almost every insurance company in LA is going to have a hurricane deductible that is either 2%, 5% or 10%
It's pay the higher premium or hope you don't get hit. If you go 10 years or more....you are prolly coming out ahead with higher %.
After Laura and Ida pretty much every one will be that if that haven't already.
But it's pretty sine almost every insurance company in LA is going to have a hurricane deductible that is either 2%, 5% or 10%
It's pay the higher premium or hope you don't get hit. If you go 10 years or more....you are prolly coming out ahead with higher %.
After Laura and Ida pretty much every one will be that if that haven't already.
Posted on 9/3/21 at 8:59 pm to rocket31
quote:
do you live in a trailer
Houses in my neighborhood range from $400k to $700k in BR.
Posted on 9/3/21 at 8:59 pm to Kenner 23
quote:On top of the bills I pay online, credit card offers, letters from Stare Farm that wish me Happy birthday, and all the other junk - you're right.
SF sent you a letter that you probably threw in the pile we all have
Posted on 9/3/21 at 8:59 pm to MapGuy
$1000 deductible here got policy 3 years ago. Seriously people y’all need to shop around and read the fine print. State Farm is the worst carrier for south la.
Posted on 9/3/21 at 8:59 pm to LSUEEAlum
Your $1,000 flat deductible makes sense.
As long as your roof is newer and your home doesn’t have vinyl siding, you can get a lower wind/hurricane deductible.
As long as your roof is newer and your home doesn’t have vinyl siding, you can get a lower wind/hurricane deductible.
Posted on 9/3/21 at 9:00 pm to lsu777
Not true...I had 2 straight insurance companies that had me at a $1000 deductible, my current one is 1%
Posted on 9/3/21 at 9:00 pm to Tbooux
quote:
State Farm is the worst carrier for south la.
Not really. Ever seen SF file bankruptcy and close up shop?
Nope
But plenty of smaller carriers have after named storms.
Posted on 9/3/21 at 9:05 pm to LSUsmartass
There is only one deductible per hurricane season Jim Donelon said on the radio. Even if you had damage below the deductible threshold, make a claim. It will go towards your seasonal deductible.
Posted on 9/3/21 at 9:05 pm to lsu777
My SF agent called me about switching from SafeCo for my home insurance. I sent her my current policy and she proceeded to tell that’s the best home owners she’s ever seen. Told me to never drop my current policy.
There are better options besides SF
There are better options besides SF
Posted on 9/3/21 at 9:06 pm to Bucktail1
quote:
There is a zero chance you have a $1000 hurricane deductible in the state of LA.
I must be a unicorn then.
My original homeowners quote was $1k normal and 2% hurricane. I negotiated it down to $1k/$1k. I also added water backup/sump coverage. It actually didn't cost all that much.
Posted on 9/3/21 at 9:07 pm to Cool Hand Luke
quote:
There is only one deductible per hurricane season Jim Donelon said on the radio. Even if you had damage below the deductible threshold, make a claim. It will go towards your seasonal deductible.
Is this true across the board? I have some damage well below the threshold but if it'll count towards my deductible I'll claim it
Posted on 9/3/21 at 9:08 pm to LSUEEAlum
quote:
Not true. I have a straight dollar deductible for hurricanes; $1000
My brother has a similar policy, I think his is $1500.
The company doesn’t write insurance policies in LA anymore but allowed him to keep his.
Lucky SOB.
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