203.288.8429 | 193 State St P.O. Box 340 North Haven CT 06473-2214

Get Ready for CT Storm Season

Know Your Hurricane Insurance Deductible

By now Connecticut residents know when the weatherman starts talking about hurricanes, floods and tornados, they need to get ready for storm season.

Unfortunately, people don’t usually check their insurance policy until after the damage has been done by wind, water or falling trees. Do you have the proper insurance for the CT storm season? Do you know your Connecticut hurricane insurance deductible?

The impact of Hurricane Sandy will be felt for years after she hit Connecticut, and the likelihood of annual catastrophic storms like her has increased.  As a wise homeowner, you should review your homeowners insurance policy for storm and hurricane insurance deductibles.You may have a hurricane insurance deductible and not even know it.

A deductible is the amount of money a policyholder pays out-of-pocket before insurance coverage begins. A standard homeowners insurance policy deductible is typically a flat dollar amount (e.g., $500 or $1,000). But a hurricane deductible, which applies to losses due to a hurricane, is generally a percentage of the home’s insured value.   (e.g., 1% to 5%). It is separate from the deductible that applies to all other perils (i.e., causes of loss).

For example, if a policyholder’s home is insured for $200,000 and the insurance policy contains a 2% hurricane deductible, the policyholder would have to pay the first $4,000 needed to repair the home, if the loss were caused by a hurricane, before the insurance coverage begins.

Whether a hurricane deductible applies to a claim depends on the applicable “trigger” or event needed to occur before the deductible will apply. Triggers vary by state and insurer, but usually apply when the National Weather Service (NWS) issues a hurricane watch or warning. The hurricane deductible continues to apply until some time after the watch or warning terminates (e.g., between 24 to 72 hours).

Typically, properties located in coastal communities are subject to a hurricane deductible. In Connecticut, the hurricane deductible is calculated as a percentage of the insured value of the home, and cannot exceed 2% to 5% of the property’s value.  According to Connecticut regulations, the deductible must be identified on the declarations page of the homeowners policy.  The trigger for the deductible is when the National Hurricane Center (NHC) issues a hurricane warning for anywhere in the state, and ends 24 hours after the NHC terminates the hurricane warning or downgrades the hurricane to a tropical storm.

For more information about hurricane deductibles, see the Insurance Information Institute’s publication.

Connecticut Hurricane Insurance Deductible Review

Do you see candy corn in the supermarket and the leaves starting to change? Then it’s time to review your homeowner’s insurance policy for storm and hurricane coverage and deductibles.  You’ll want to know that your insurance will cover the tree removal and house repairs after your favorite maple crashes into your living room.  Hurricane preparations are more than just stocking up on water and boarding up windows.  You’ll be glad you dealt with the paperwork ahead of time, too.

Give North Haven Insurance Group a call to review your policy, at 203.288.8429 and we’ll make sure you’re ready to weather the storm.


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