When a hurricane strikes Florida, most homeowners expect their insurance company to step in and cover the damage. After all, you are paying for your insurance to be there for you should your property incur any covered damage.
But many homeowners are caught off guard by one major factor: their hurricane deductible. This is not your standard deductible; it’s a separate and often much larger amount you’re required to pay before insurance begins covering your storm-related losses.
Understanding how hurricane deductibles work is critical to knowing what to expect during the claims process and protecting your financial recovery.
What Is a Hurricane Deductible?
In Florida, homeowners’ insurance policies include a hurricane deductible that specifically applies when damage is caused by a hurricane. Unlike a flat-rate deductible, hurricane deductibles are calculated as a percentage of your home’s insured value, usually ranging from 2% to 10%.
For example, if your home is insured for $400,000 and your policy has a 5% hurricane deductible, you’ll be responsible for the first $20,000 of covered hurricane damages.
When Does a Hurricane Deductible Apply?
Hurricane deductibles apply when a named hurricane causes damage. Florida law defines this time period as beginning when the National Hurricane Center issues a hurricane warning for any part of the state and ending 72 hours after the last warning is lifted.
If the damage occurs outside of this window, your standard deductible may apply instead.
Understanding this deductible helps you plan and prepare financially, especially when hurricane season begins.
How to Prepare
- Review your policy to confirm the hurricane deductible amount and terms.
- Calculate your potential out-of-pocket costs based on your home’s insured value.
- Build an emergency fund to help cover the deductible in case of storm damage.
- Keep records of any hurricane-related warnings, damage, and repairs for your claim.
FAQs: Hurricane Deductibles in Florida
1. Is a hurricane deductible the same as a standard deductible?
No. A hurricane deductible is usually much higher and is calculated as a percentage of your home’s insured value. It only applies to damage caused by named hurricanes.
2. How often do I have to pay a hurricane deductible?
Generally, you’re only responsible for the hurricane deductible once per calendar year, even if more than one hurricane damages your home.
3. Can I choose the percentage of my hurricane deductible?
In some cases, yes. Florida insurers typically offer options like 2%, 5%, or even 10%. Choosing a lower deductible means higher premiums, but less out-of-pocket cost after a storm.
4. What if my damage doesn’t exceed the hurricane deductible?
If the cost of repairs is less than your deductible, your insurance company won’t issue a payout. You’ll have to cover the full cost yourself.
5. Does the hurricane deductible apply to all types of hurricane damage?
Yes, it applies to all covered losses resulting from a hurricane during the applicable period—wind damage, roof leaks, structural damage, and more.
Facing Hurricane Damage? JT Law Firm Can Help.
If your home was damaged in a hurricane and you’re unsure how your deductible affects your claim, or your insurance company is trying to underpay you, contact JT Law Firm for help.
We’ve helped homeowners across Florida hold insurers accountable and secure fair compensation.
No fees unless we win. Let us fight for you.
Call (855) 585-2997 or send us a message!
