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Port St. Lucie - Sebastian - Vero Beach St. Lucie, Martin, and Indian River counties (Treasure Coast)
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Old 11-14-2014, 05:49 AM
 
1,257 posts, read 1,866,005 times
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Yes that is still very high
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Old 11-14-2014, 06:23 AM
 
10,599 posts, read 17,896,657 times
Reputation: 17353
Quote:
Originally Posted by Carlton Harris View Post
What they don't tell you is that the "hurricane deductible" is about 3% of the insured value. For insurance of $300K that's $9000! My policy on my older CBS home with new metal roof (w/o contents replacement cost coverage) is over $1600. About twice the cost of that of the Northeast (with full replacement value).
It's not a secret.

It's right in the policies. They don't "fail to tell you".

This isn't the ONLY thing the public fails to read or puts their heads in the sand about before signing. (hello? Like MORTGAGES)

And IRONICALLY it was Hurricane SANDY in the NORTHEAST that pushed them over the edge. Costing the industry 25 Billion because of "faulty policies".

http://www.dfs.ny.gov/consumer/homeown/awindded.pdf

Pay more, get less: Percentage-based deductibles | Insure.com
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