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Tropical Storm Dorian

As we face the prospect of yet another hurricane, we are reminded of several lessons that were learned during Michael and Irma. One lessons many homeowners learned is that their deductible for hurricane (and sometimes wind) is often much higher than their other perils deductible. In the case of some folks, their deductibles were higher than the losses they incurred. Is there a solution to this problem? Perhaps. One solution to the high calendar year hurricane deductible is to carry a flat dollar amount deductible. This option may not be available for every risk (home) and may not make financial sense because of the increased cost. Another solution may be to have a policy that is triggered in the event of a direct impact hurricane. These policies are usually very affordable because they are typically small and do not require filing a claim in the traditional sense. We are not appointed to write this type of coverage so I would caution anyone would is interested to work closely with an agent they trust or do their homework before signing up for one of these plans.