Lock Insurance has been in business for quite a while and has been through several hurricanes, but Hurricane Irma showed who and what was covered. Many insured do not realize how high their deductible is for Hurricanes. We also found that they did not know there was a lower hurricane deductible option.
In Florida, the 2%, 5%, and 10% deductible is a calendar year deductible, meaning it is a percentage of your structure amount dwelling. For instance, 100,000 thousand dollar houses with a 2% deductible would result in the homeowner being responsible for the first 2,000 dollars from a named storm event.
What happens if there are multiple named storms in a single calendar year and you have to file more than one hurricane claim? Once your deductible has been met, you have no further deductible responsibility for that year.
Some carriers have offered Hurricane Deductibles as low as 500.00 dollars in the past few years.
Contact us today and find out more so you will not be caught with High out-of-pocket costs for minimal difference in price when the next storm is coming in.
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