Yesterday we reported on vows by the governors of New York, New Jersey and Connecticut that homeowners would not be on the hook for high hurricane deductibles on their insurance policies, but we’ve heard from readers who have received conflicting information. It’s a confusing time for many impacted by Sandy, so here’s what we suggest you do if you have questions or concerns about your insurance policy and any claims you might make. [More]
hurricane deductibles
To Save Homeowners On Insurance Deductibles Governors Insist Sandy Wasn’t A Hurricane
By 11.1.12 — Updated: 11.2.12
Hurricane? What hurricane? Oh, Sandy? She was just a superstorm, say governors in states impacted by Sandy earlier this week. See, if she was a hurricane, homeowners would have to pay out anywhere from 1% to 5% of their homes’ values before insurance coverage would kick in. But if she wasn’t, as the governors of New York, New Jersey and Connecticut are saying, that deductible doesn’t have to be met. That will likely result in huge savings for homeowners. Nice. [More]
