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Florida Consumers Face New Hurricane Deductibles

In the aftermath of recent storms, hurricane deductibles are rising in Florida. Such deductibles can range from $500 up to 10 percent of a Florida home’s value. When a storm hits, the full effect of this cost-shifting to consumers becomes apparent...
September 27, 2017

In the aftermath of recent storms, hurricane deductibles are rising in Florida. Such deductibles can range from $500 up to 10 percent of a Florida home’s value. When a storm hits, the full effect of this cost-shifting to consumers becomes apparent.

“We are pleased to see complaint figures low at this stage of our state’s recovery,” says Ashley Carr, spokesperson for the state’s Department of Financial Services. “It generally will take a few weeks for consumers to file a claim and then reach a point, for any number of reasons, where a complaint may be the direction a consumer chooses to take.”

Statewide, more than 496,000 Irma claims had been filed as of Sept. 21. About 7.2 percent of residential claims have been closed, but nearly as many have been closed without payment (15,003) as have been closed with payment (15,928), according to records from the Florida Office of Insurance Regulation.

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