Percentage deductibles
Meaning, if your house is insured for $200,000 and your policy has a 1% hurricane deductible, $2,000 would be deducted from the claim payment. If the damage amounted to $15,000, your reimbursement would be $13,000 after you pay your deductible. Many homes on the NJ Shore are required to carry 1%, 2%, up to 5% wind/hail deductibles. What is your deductible?
