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Does ‘Florida Hurricane Insurance’ Actually Exist?

Although there is not a set type of Florida hurricane insurance that can be bought, there are still ways to protect your home from hurricane damage. After devastating storms like Andrew, Katrina, and Sandy, homeowner’s insurance policies have started introducing a hurricane deductible.

Unlike other insurance policies, hurricane deductibles usually are assessed in percentages, and not dollar amounts. This can sometimes leave people on the hook for a lot more money than they originally thought. For other types of insurance, the dollar amount deductible can be around $500 to $1,000, whereas the percentage amount for hurricane deductibles can be anywhere from 1% to 10% of the insured value of the house. That adds up to a lot more than some people might think. 5% of $200,000 is $10,000, which is $10,000 that comes out of the policyholder’s pocket before the insurance company with contribute a penny.

There are certain terms and conditions that do limit what the insurance will cover. In most, if not all, cases, a hurricane has to be declared by the National Weather Service within 24 hours before landfall, or they issue a hurricane watch or warning, or the hurricane has to reach a certain intensity. If none of the criteria that are particular to your policy are met, your home could be destroyed and after the hurricane deductible you may not afford the cost of repairs. There are all sorts of specifics that need to be reviewed by the policyholder on case by case basis.

If you have suffered from hurricane damage and are unsure of how much you are entitled to, Advocate Claims Public Adjusters can help! Our Florida Public Adjusters have been empowering homeowners and business owners for over 10 years. Call today at 1-954-369-0573 or contact us online to learn how our Public Adjusters can help you through the insurance claim process.