Like a good neighbor, State Farm is there charging a 20% increase with a 5% deductible for Hurricane???? What if the customer has tornado damage or straight wind from a storm? Still 5%????
State Farm had a lot of trouble back when Katrina hit and were calling damage rising waters instead of Wind in both Louisiana and Mississippi. That went on for a couple of years before most of the claims were settled. This new deductible apparently was designed to limit the amount paid if another one hits. By the way, did you see on the news that the former Mayor in New Orleans during Katrina was sentenced to 10 years for money laundering, corruption, taking bribes etc when he was parceling out contracts to his buddies with the Katrina money? He will probably be out in two and then he can go to his secret accounts offshore and live the life of Riley. He should have gotten 10 years per count in my opinion.
I’m in Texas and Foremost went to a 5% Hurricane deductible several years ago. It only applied to a named storm, so a loss from other type storms would go to the policy deductible, not the 5%.
Like a good neighbor, State Farm is there charging a 20% increase with a 5% deductible for Hurricane???? What if the customer has tornado damage or straight wind from a storm? Still 5%????
I think they do have a separate wind/hail deductible, too. It might be 5%, I’m not sure though.
State Farm had a lot of trouble back when Katrina hit and were calling damage rising waters instead of Wind in both Louisiana and Mississippi. That went on for a couple of years before most of the claims were settled. This new deductible apparently was designed to limit the amount paid if another one hits. By the way, did you see on the news that the former Mayor in New Orleans during Katrina was sentenced to 10 years for money laundering, corruption, taking bribes etc when he was parceling out contracts to his buddies with the Katrina money? He will probably be out in two and then he can go to his secret accounts offshore and live the life of Riley. He should have gotten 10 years per count in my opinion.
I’m in Texas and Foremost went to a 5% Hurricane deductible several years ago. It only applied to a named storm, so a loss from other type storms would go to the policy deductible, not the 5%.
Todd, are you in Tier 1 or 2? We have Foremost as well and they aren’t doing 5% in our area. Of course, we aren’t in hurricane alley either.
Foremost and Farmers have a mandatory 5% tropical cyclone deductible in Harris and Fort Bend Counties.