homeowners insurance deductibles Archives

Homeowners insurance policy details will likely change due to Sandy

December 11, 2012April 30, 2013

Many people may find that their premiums and their deductibles will rise because of the superstorm. The northeastern states were slammed by superstorm Sandy, generating a tremendous number of homeowners insurance claims, and have led experts in Delaware to predict that this will generate a number of changes to customer policies, including to the premiums they pay and the deductibles they face. The direct impact of the storm was only the first stage in the damage that it caused. Even though the damage faced by residents of Delaware led to…

AIR Worldwide Updates Loss Estimates for Post-Tropical Cyclone Sandy

November 26, 2012November 26, 2012 Guest Author

BOSTON, Nov. 26, 2012 – Since Sandy made landfall as a post-tropical cyclone on October 29, 2012, in southern New Jersey, catastrophe modeling firm AIR Worldwide has been analyzing the storm’s characteristics and impacts. Informed by the latest available information on surge height and extent from the USGS, surface wind speed observation data, and findings from AIR’s post-disaster survey teams, AIR now estimates that insured losses from Sandy will be between USD 16 and USD 22 billion. AIR estimates include wind and storm surge damage to onshore residential, commercial and…

Homeowners insurance policyholders may find themselves paying more for Isaac

September 8, 2012September 7, 2012 Julie Campbell

Many residents of the metro New Orleans area may face greater out of pocket expenses. Due to the fact that Isaac came ashore in the form of an actual hurricane, having been upgraded from a tropical storm, residents with homeowners insurance in the area of metro New Orleans are finding that they are paying more for wind damage repairs they face. This is because the deductibles for many of the more recent policies are higher for hurricanes. Homeowners insurance policies that have been written over the last few years include…