Well, I was gonna say that’s sure one dumb@ss law that works for the Insured not the insurer, but I guess y’all can’t have your swamp busted up and then rebuilt in between storms, so it’s not like the homeowner is gonna collect twice.
The 1 deductible per year law has been around for while and all the current rates should already have that built into them. I can see this being a bigger issue for fraud and claims inflation since policyholders now have another shot for new claims with no deductible.
It added about 1% increase to the average homeowner premium. It really is not a lot of money, and while you don’t pay two hurricane deductibles, your AOP deductible DOES apply to the second hurricane. So, it’s really a drop in the bucket overall for insurers.
I’m very confused. I’ve seen countless people on TV who are crying because their homes were destroyed by a hurricane all the while displaying a confused look on their faces of why me. First, are they new to this country? And second, don’t they know the borders are open in the states? Move north. This will keep happening every year, with more and more hurricanes a coming. There is a proven pattern. What’s next, people who live next to an active volcano that wonder why there’s lava running through the living room.
one law firm tells me if they get involved not to worry about the huge deductable that it will be taken care of. local law firm tell’s me that if the firm recoups more money ,I’m still responsible for the deductable .help please
Well, I was gonna say that’s sure one dumb@ss law that works for the Insured not the insurer, but I guess y’all can’t have your swamp busted up and then rebuilt in between storms, so it’s not like the homeowner is gonna collect twice.
You know the carriers will just raise the deductible percentage up a point or something to even it out. It’s how the game is played by the actuaries.
The 1 deductible per year law has been around for while and all the current rates should already have that built into them. I can see this being a bigger issue for fraud and claims inflation since policyholders now have another shot for new claims with no deductible.
It added about 1% increase to the average homeowner premium. It really is not a lot of money, and while you don’t pay two hurricane deductibles, your AOP deductible DOES apply to the second hurricane. So, it’s really a drop in the bucket overall for insurers.
I’m very confused. I’ve seen countless people on TV who are crying because their homes were destroyed by a hurricane all the while displaying a confused look on their faces of why me. First, are they new to this country? And second, don’t they know the borders are open in the states? Move north. This will keep happening every year, with more and more hurricanes a coming. There is a proven pattern. What’s next, people who live next to an active volcano that wonder why there’s lava running through the living room.
one law firm tells me if they get involved not to worry about the huge deductable that it will be taken care of. local law firm tell’s me that if the firm recoups more money ,I’m still responsible for the deductable .help please