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Insurance Definition: HURRICANE DEDUCTIBLE

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HURRICANE DEDUCTIBLE:

Definition:

  • A percentage or dollar amount added to a homeowners insurance policy to limit an insurer’s exposure to loss from a hurricane. Higher deductibles are instituted in higher risk areas, such as coastal regions. Specific details, such as the intensity of the storm for the deductible to be triggered and the extent of the high risk area, vary from insurer to insurer and state to state.

Information provided by Insurance Information Institute