Pennsylvania Homeowners Spared from Costly Hurricane Sandy Deductibles
Posted Scott B. Cooper on Nov 06, 2012 in News
Posted on Nov 06, 2012
On November 1, 2012 the Commonwealth of Pennsylvania announced some good news for Pennsylvanians where many areas were slammed by Hurricane Sandy: Homeowners there won’t have to pay hurricane deductibles on their insurance claims, which can amount to thousands of dollars.
Governor Tom Corbett added Pennsylvania to the growing list of states — including Connecticut, Maryland, New Jersey and New York — where governors and insurance regulators have told insurers to spare homeowners from the deductibles, after the superstorm whirled across the East Coast, causing heavy wind and flood damage to property and leaving millions without power.
“Insurance deductibles could have added significant costs to Pennsylvanians already struggling to clean up and rebuild after Hurricane Sandy,” Corbett said in a statement. “Insurance companies have deployed catastrophe teams to Pennsylvania and they have been advised that hurricane deductibles should not be applied to any homeowner’s insurance claims.”
A standard homeowners’ policy deductible is a flat fee of $500 or $1,000, according to the Insurance Information Institute. But 18 coastal states allow insurance companies to require much larger deductibles for hurricane damage, which typically range from 1 percent to 5 percent of a home’s value.
If you believe your insurance company is acting in bad faith and/or unfairly treating you for a claim contact Schmidt Kramer Insurance Lawyers, at 717-888-8888 and we will answer any questions you have about the claim and the legal rights you may have due to the injury and losses involving any Pennsylvania insurance claim. Do not wait, call 8 and the Pennsylvania Insurance Lawyers will help.