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Started By
Message
State Farm Hurricane Deductible
Posted on 8/31/20 at 6:25 pm
Posted on 8/31/20 at 6:25 pm
I'm surprised this hasn't been talked about more on here but a lot of folks in the state didn't realize that State Farm has a 2 or 5% hurricane deductible for named storms. There are a lot of upset folks who had no idea of this change. Are there any insurance companies in the state that do not have this deductible for hurricanes?
42
Posted on 8/31/20 at 6:27 pm to tigerlife36
I think most have it.
State Farm has the deductible clearly stated on their policies. But, many do not read them.
State Farm has the deductible clearly stated on their policies. But, many do not read them.
Posted on 8/31/20 at 6:27 pm to tigerlife36
Thought this was pretty well known in the post Katrina world
Posted on 8/31/20 at 6:27 pm to tigerlife36
Insurance is such a joke
Posted on 8/31/20 at 6:28 pm to lootershooter
Bankers, ASI and UPC all offer $500 or $1000 hurricane deductibles.
Posted on 8/31/20 at 6:28 pm to ItzMe1972
quote:
State Farm has the deductible clearly stated on their policies. But, many do not read them.
One of them being me
Luckily I didn’t have a lot of damage though
Posted on 8/31/20 at 6:28 pm to tigerlife36
quote:
There are a lot of upset folks who had no idea of this change. Are there any insurance companies in the state that do not have this deductible for hurricanes?
They all do and this has been in place for several years
Posted on 8/31/20 at 6:30 pm to tgrbaitn08
They pretty much made sure that they won't have to pay for roofs anymore when a hurricane hits
Posted on 8/31/20 at 6:31 pm to tigerlife36
Call an independent agent and they can find you a choice of policies without the jacked up deductibles. National General Insurance is one company that offers them. I’m sure there are many more.
Posted on 8/31/20 at 6:33 pm to tigerlife36
Who knew that it will cost you to live in a high risk area
Posted on 8/31/20 at 6:34 pm to tigerlife36
I'm assuming that 2% or 5% has to be paid prior to any payout by the insurance company?
If so, that could put some folks looking at a complete rebuild in a bind.
If so, that could put some folks looking at a complete rebuild in a bind.
Posted on 8/31/20 at 6:36 pm to YF12
Luckily I didn't have any major damage but this is actually the first named storm to make it to North Louisiana as a category 1 and not just a storm. I'm sure it's well known in South LA but I think it caught most people off guard in the north part of the state.
This post was edited on 8/31/20 at 6:37 pm
Posted on 8/31/20 at 6:38 pm to tigerlife36
I have State Farm and pay slightly more for a 1% deductible with 2% hurricane deductible. It’s definitely a better way to go.
Posted on 8/31/20 at 6:43 pm to tigerlife36
Found out this weekend too.
This 40k deductible is BS.
This 40k deductible is BS.
Posted on 8/31/20 at 6:47 pm to Scooba
Found out this weekend too.
This 40k deductible is BS.
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I can understand the anger. When they upped the deductibles, the rates did not go down. So less insurance for the same money. But, they told us we should be glad they are willing to insure our properties. Many companies were not willing.
This 40k deductible is BS.
------------
I can understand the anger. When they upped the deductibles, the rates did not go down. So less insurance for the same money. But, they told us we should be glad they are willing to insure our properties. Many companies were not willing.
Posted on 8/31/20 at 6:48 pm to tigerlife36
Like a good neighbor...
Posted on 8/31/20 at 6:50 pm to tigerlife36
Living in south Louisiana, that's the first thing I look at. We have $1000 flat deductible
Posted on 8/31/20 at 6:51 pm to LegendInMyMind
quote:
I'm assuming that 2% or 5% has to be paid prior to any payout by the insurance company?
If so, that could put some folks looking at a complete rebuild in a bind.
Actually, State Farm is not making me pay deductible until all of my contractor payments go out and it will be deducted from those total payments. May have something to do with my home being inhabitable.
State Farm has been great thus far. Submitted claim online late Friday night and got a call Saturday. They couldn’t give an ETA on adjuster but have been very helpful. They reiterated to TAKE PHOTOS OF EVERYTHING BEFORE YOU TOUCH ANYTHING.
Posted on 8/31/20 at 6:53 pm to LSUsmartass
When shopping around I always make sure I have a $1000 named storm deductible. I have a feeling sooner or later it will be harder to find.
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