Weather Technicality Favors Homeowners

Insurers will often charge policyholders a deductible as high as 15% of the value of a home to cover damage sustained in a hurricane, but state insurance departments …

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Insurers will often charge policyholders a deductible as high as 15% of the value of a home to cover damage sustained in a hurricane, but state insurance departments in several states on the East Coast have told insurers they may not do so for ‘Superstorm’ Sandy. The reason: Hurricane Sandy was downgraded to a tropical storm before it made landfall and people in many states did not receive an official hurricane warning. These two criteria must be met for many deductibles to be enforced legally, which means many homeowners may enjoy a bit of good news to go along with the bad. For more on this continue reading the following article from JDSupra.

This article was republished with permission from JDSupra.

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