Your Improperly Calculated Deductibles

Most insurance policies contain deductibles that require policyholders to pay the first part of the claim before the insurance company pays the remainder. For example, if you have a $250,000 homeowner’s policy with a $2,500 deductible, you’re responsible for paying the $2,500 first.

However, unlike a standard deductible, most homeowner’s insurance policies have a separate hurricane deductible. That requires homeowners to pay from one to five percent of the property’s value.  So, a policy on the same $250,000 home may require a policyholder to contribute from $2,500 to $12,500 before the insurance kicks in.

Insurance companies began issuing homeowner’s policies with separate deductibles in states prone to hurricanes – such as those located in coastal areas – after Hurricane Andrew cost the industry over $15 billion in insurance payouts.

Here’s how Hurricane Sandy differs from other hurricanes.  The governors of New York, New Jersey and Connecticut declared that the storm did not make landfall as a hurricane – which is why it is commonly referred to as “Superstorm” Sandy – so homeowners do NOT have pay the large hurricane deductibles which may be included in their policy.

Unfortunately, many insurance companies are applying those deductibles despite what lawmakers have said and are refusing to change their decisions unless policyholders put up a fight.  If your insurance company has improperly calculated the deductible on your policy, our bad faith insurance lawyers at Belluck & Fox can help by reviewing your policy, analyzing what deductibles you should pay versus what you’re being required to pay.

Contact Our Insurance Lawyers Today

Turn to the experienced insurance lawyers at Belluck & Fox LLP for help with your Sandy claim. Led by Joe Belluck and Jordan Fox, our law firm stands up for Hurricane Sandy victims in New Jersey and New York. We are helping storm victims in Staten Island, Long Island and the Jersey Shore.

We have successfully fought insurance companies – and we have secured more than $500 million for our clients and their families.  Call 212-681-1575 or fill out our online contact form for a free consultation. We’ll get started on your claim right away.