GT Insurance Blog

Insurance problems and cures

Homeowners Insurance – deductibles

leave a comment »

Most New Jersey home insurance require wind or hurricane damage deductibles for homes near the shore. A 5% windstorm deductible means that, in the event of wind damage, a $300,000 value house will have a $15,000 deductible.

That’s a problem but there aren’t a lot of alternatives. However, there are a couple of companies imposing hurricane deductibles throughout the state. So, for a house in Morristown that costs $400,000, with a 3% hurricane deductible, when a hurricane touches New Jersey, any wind damage to that house will be the homeowner’s problem until it passes $12,000.

That’s not the market standard. If you see that on your policy, you should look around for another company.

800-548-2329  www.GBWinsurance.com

Written by gbwinsurance

December 10, 2009 at 1:11 am

Posted in 1, Insurance

Tagged with

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s

%d bloggers like this: