Hurricane Deductible Payment

[Old_Salter]

What is the name of your state? Florida

Hello all ! I'm looking at my renewal policy with a 5% or $10,000 plus deductible on Hurricane damage.
My question is, God forbid one does strike our area this year--
How do these work ? Do we have to submit $10,000 worth of receipts on completed work
in order to receive any monies to finish any repairs ?
Or do they estimate the damages and anything Over the $10,000+ they would issue a check for ?
The reason I ask is there's no way I'd be able to come up with that initial outlay to even start the repairs...
so if we would have to submit that investment first..I may have to forego any hurricane coverage.
(the home is paid off by the way so no issue of "must have" such & such to satisfy a bank)
Thank you in advance for any insight

 

[Old_Salter]

All set, my Agent got back to me and if it did happen the repairs would be started.
I would just have to cover that portion during the process--
that I can live with

 

[moburkes]

Glad you were able to get the answer. Its just like having a deductible for your vehicle. They give you a check for the total amount minus your portion, the deductible.

 

[anadjuster]

It's annual also not per occurrence

That deductible is also an annual deductible now in FL. If you have more than one hurricane (again), in the calendar year, your full 5% deductible will only apply once. Once your claim goes over the deductible the next claim (in that calendar year) will only have your normal policy deductible applied, (usually $250, $500 or $1,000).

Also, if you have minor damage from a hurricane or named storm keep all your repair receipts or estimates as they can help absorb the hurricane deductible if you have another storm in that calendar year.