NY and 18 other states require mandatory windstorm deductible

Many locations throughout the United States are subject to extreme weather. We all know that the west coast frequently suffers from the perils of wildfires, the Gulf Coast and much of the eastern seaboard suffers terrible hurricanes, and the Midwest is often victim to tornados. That being said, some states that are subject to hurricanes require wind insurance. Wind insurance is often also referred to as wind and hail insurance, named storm insurance, or simply a hurricane policy. This comes after the devastation of hurricanes in recent decades has cost insurance companies hundreds of billions of dollars.

These states include New York, Alabama, Connecticut, Delaware, Florida, Georgia, Hawaii, Louisiana, Maine, Maryland, Massachusetts, Mississippi, New Jersey, North Carolina, Pennsylvania, South Carolina, Rhode Island, Texas, and Virginia. Typically, the insurance companies will require a percentage deductible that is based on the value of your home. So, you would have to incur a certain amount of damage out of pocket until it meets the insurance company’s percentage quota.

Though 2017’s hurricane season is finally over, it is essential to revisit your windstorm policy before the next season arrives to make sure you have enough coverage in the event of a hurricane. If you have any questions about insurance legalities, contact our firm today.

The Law Office of Craig A. Blumberg is an experienced New York City insurance law firm. If you require quality assistance after having suffered property loss, please contact our firm to schedule a free initial consultation.