Hurricane insurance works differently, particularly here in Florida. Why? Primarily because we get hit with them way more often than other states do. This is why most property insurance companies have specific rules for hurricane claims. The best way to go about filing a damage claim is to understand Florida laws surrounding hurricane deductibles so you can know if your insurer is treating you fairly.

Hurricane deductibles in Florida can be substantially higher than your standard policy deductible, so it is imperative that you are aware of the dollar amount this type of deductible imposes upon your ability to collect on a claim.

Need help with your hurricane damage claim? Our team of public adjusters at Altieri Insurance Consultants Tampa is fluent in everything there is to know about hurricane deductibles in Florida! Schedule a consultation today to get what you are owed.

When Does My Hurricane Deductible Kick In?

Hurricane deductibles in Florida encompass very specific time frames, and acting on these critical moments is key to getting proper reimbursement for your insurance claim.

1. Hurricane deductibles go into effect the second that the National Hurricane Center issues a hurricane warning or watch in your area.

2. The end of the 72-hour period following the final hurricane watch or warning marks the end of your hurricane deductible.

Knowing the timeframe in which your hurricane deductible is calculated is a critical part of receiving the correct amount for your hurricane damage insurance claim in Tampa. The next step is to follow all of the right procedures leading up to your settlement check.

Types of Wind Related and Hurricane Deductibles

There are two ways to calculate your deductible in Tampa. Some insurance policies will include fixed-dollar deductibles for Windstorm/Hail, which is different than a Named Storm or Hurricane event. For Hurricane or Named Storm events, policies will set your deductible based on a certain percentage as it relates to your overall policy limit coverage amount.

Fixed-dollar deductibles are rather straightforward. One of the most common fixed insurance deductible amounts is $2,500, but it could vary depending on the property. This type of deductible relates to standard Windstorm/Hail events which do not rise to the classification of a Named Storm.

Percentage-based deductibles might account for two, five, or ten percent of your property damage coverage. As an example, if your property is insured for $500,000, and you have a 5% hurricane deductible, your deductible would be $25,000.

I’ve Paid My Deductible. Where’s My Check?

With today’s large Named Storm/Hurricane Deductibles in place, it is good to know that this deductible type may be a Calendar Year Deductible. This means, if a second Named Storm were to strike your property, and cause more damage within the same year of the first named storm hitting you, the deductible paid for damages on your first claim will not be repeated in your second claim. Your insurer cannot apply another deductible to your second claim. And by the way, your policy limits reinstate themselves in full for that second claim.

When more than one Named Storm strikes your property within the same year, the complexity factor of determining loss amounts between claims 1 and 2 accelerate exponentially for the insurance company. As you sit and wait for your insurer to decide how best to make payment, do you think they are planning on how to give you the most money, or do you think they factor the payment on allowing the least amount owed? That is for you to decide, but those who hire an Altieri public adjuster in Tampa, do not have that worry. Adjusters at Altieri are trained to obtain the most proceeds allowable within your policy and they will convince your insurer to pay that amount to achieve an amicable settlement.

I Need Help With My Hurricane Damage Claim. Who Can I Call?

Think your hurricane insurance deductible is too high, or your settlement offer feels rather small compared to what you’re paying for your Tampa property? Confused between what your flood policy should pay and what your hurricane policy should pay? That’s when a public adjuster comes in handy! Hiring a public adjuster won’t interfere with your policy and can help you get a fair settlement amount for your hurricane damage claim. These professionals can walk you through your insurance policy and explain your deductibles while reviewing your carrier damage estimates to make sure you’ve been paid properly.

Altieri Insurance Consultants Tampa Can Help You Understand Your Hurricane Insurance Deductible. Schedule a Consultation Today!

From understanding your deductible to getting your life back, Altieri Insurance Consultants Tampa offers hurricane claims services with a team of experienced public adjusters who are always there when you need them! Call us today at (813) 247-4757 to get started with a consultation appointment.