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Hurricane Damage

Hurricane Damange Assessment is Complex, and Business Owners Need a Competent Public Adjuster to be Paid Their Full Insurance Claim

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Citizens Public Adjusters and our team of Public Insurance Adjusters are assisting Flood and Hurricane Victims with older claims from Hurricane Harvey and now Hurricane Laura. Hire our Public Adjuster or Insurance Appraiser to handle your case to achieve the best possible hurricane claim settlement.

We welcome inquiries for public adjusting services on minor and major Hurricane damage claims. We deal with property managers, clients, client referrals and agents as well as brokers and attorneys.

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The Problem:

After Hurricane Andrew in 1992, insurers recognized that losses from hurricanes could be a lot greater than they’d previously thought. Hurricane Katrina, in 2005, that cost insurers more than $41 billion at the moment, supported their fears. 

Following these extraordinary losses, reinsurance companies, insurers that share the expense of claims with main businesses, like homeowners carriers, stated that they could not assume so much danger and that primary firms must reduce their potential losses.

During the Atlantic hurricane season, which lasts from June to November, every coastal state from Florida to Maine could potentially be hit by a storm. Increasing development along the coastal areas of the states has put more and more homes at risk of severe windstorm damage. 

To limit their exposure to catastrophic losses from natural disasters, insurance companies in these countries sell homeowners insurance policies with percentage deductibles for storm damage rather than the traditional dollar deductibles, which can be used for other kinds of losses such as fire damage and theft.

With a policy with a $500 standard deductible, for instance, the policyholder must pay the first $500 of the claim out of pocket. If a house is insured for $300,000 and has a 5% deductible, the first $15,000 of a claim must be paid out of the policyholder’s pocket. The details of hurricane deductibles have been spelled out on the declarations page of homeowners’ policies.

To a degree, depending upon the state, insurance companies decide the degree of this hurricane or windstorm or wind/hail allowable and where it should apply, except in Florida, where state law orders these factors. Insurers’ hurricane deductible plans must be reviewed by the individual state insurance division, where they may be subject to several regulations and laws.

Nineteen states and the District of Columbia have hurricane deductibles: Alabama, Connecticut, Delaware, Florida, Georgia, Hawaii, Louisiana, Maine, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Texas, Virginia, and Washington DC. Listed below are some reports for these states detailing hurricane deductibles.

Explanation of Benefits:

Beach Plan, FAIR (Fair Access to Insurance Requirements) Plan; and other involuntary or residual markets: carriers of last resort, state-run pools that provide insurance to individuals that are unable to obtain insurance in the voluntary market.

  • Deductible: quantity of loss paid by the policyholder before insurance kicks in. Dollar exemptions: a flat dollar amount.
  • Mandatory deductibles: might be set by insurance rules, regulations or state law, or by an insurer.
  • Market Assistance Plan (MAP): a voluntary clearinghouse and referral system designed to put people searching for insurance in touch with insurance companies that have agreed to take on more business.
  • Optional deductibles: mostly utilized in less vulnerable areas. Policyholders may opt for these higher deductibles so as to pay a lower premium.
  • Standard deductibles: an indication of the usual homeowner’s insurance deductibles in the state or region.
  • Trigger: an event that’s needed for a hurricane deductible to be applied. Hurricane deductibles are”triggered” only if there’s a hurricane or a tropical storm. Triggers vary by state and insurer and may apply when the National Weather Service (NWS) “names” a tropical storm, declares a hurricane watch or warning, or defines the hurricane’s intensity. Triggers generally include a timing factor, i.e., damage occurring within 24 hours before the storm is named or a hurricane makes landfall up to as long as 72 hours after the hurricane is downgraded to a lesser storm or a hurricane watch canceled.

The Way Hurricane Deductibles Work:

here are two sorts of end damage deductibles: 

Hurricane deductibles: which apply to damage solely from hurricanes, and windstorm or even wind/hail deductibles, which apply to any sort of wind damage. 

Percentage deductibles: normally vary from 1% of a home’s insured value to five percent. In certain coastal regions with high wind threat, hurricane deductibles may be greater. 

The quantity which the homeowner will pay is based upon the home’s insured value and the”cause” chosen by the insurance carrier, which decides under what conditions the deductible applies.

In some states, policyholders might have the alternative of paying a higher premium in return for a traditional dollar deductible, based on how near the coast they reside. In certain insecure coastal locations, insurers might not provide policyholders this choice, which makes the percent deductible mandatory.

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We promise a 2 hour turn-around time for urgent cases that demand immediate attention.

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