Hurricane Deductible Calculator

Florida residential policies typically carry two deductibles. The all other perils deductible is a flat dollar amount for claims such as fire, theft, or a burst pipe. The hurricane deductible is separate, usually stated as a percentage of Coverage A, and applies to hurricane losses as defined in your policy. This calculator multiplies your Coverage A by the percentage you enter.

Coverage A is the dwelling limit on your declarations page. It is not your purchase price, market value, or mortgage balance, and it may be higher than you expect because it reflects the cost to rebuild. A higher Coverage A means a higher hurricane deductible in dollars, even if the percentage stays the same.

If damage is below the deductible, the insurer pays nothing toward it. For example, thirty thousand dollars of damage on a policy with a thirty-four thousand dollar hurricane deductible would produce no payment. Ask your agent how filing a claim could affect your policy.

Additional living expenses, the cost of staying elsewhere while the home is uninhabitable, are covered under many policies but are often reimbursed rather than paid in advance. That is why this calculator also compares costs with the cash you could reach quickly.

This calculator does not model flood. Standard homeowner policies generally exclude flood, which is covered separately, and storm surge is usually treated as flood. If you are not sure whether you carry flood coverage, ask your insurance agent.

Understanding the Estimate

Does the hurricane deductible apply to every storm?

It applies to hurricane losses as defined in your policy, and the all other perils deductible applies to most other covered claims. Damage from an ordinary thunderstorm is generally handled under the all other perils deductible. Your policy language controls.

Is the deductible per storm or per season?

Florida residential policies generally apply the hurricane deductible on a calendar-year basis, so after it has been met, later hurricane claims in the same year may use a different deductible. The details are in your policy, so confirm them with your agent.

Should I take a higher deductible to lower my premium?

It can be, if the higher deductible is an amount you could pay quickly after a storm. Compare the annual premium savings with the added out-of-pocket exposure shown in the options above, and talk it through with your insurance agent.

What about my association? Does its deductible affect me?

If you own a condominium or a home in an association that insures shared or exterior components, the association has its own policy and its own hurricane deductible. If reserves cannot cover that deductible after a storm, the association may need a special assessment. You can ask your board what the association deductible is and how it would be funded.