Not sure if they are adding in all the required deductibles for all the people that were affected by this storm too, but in the past few years the insurers have put such a high deductible for Windstorm coverage in place that I think the majority of the losses are being paid for by the people in the area.
Our deductible was 2% & although our cdamages only came to a little over $3,900, our deductible was such that we might get back about $450. & we have to replace fencing, have cleaned up the downed trees (3 mature oaks), as well as cleaned up all teh debris that was flying around during the storm & landed in our yard, so I say to the insurance companies out there that they are not doing a service to the insured people when they hike up a deductible to where the bulk of the cost on claims comes out of the pocket of the insured, unless the insured wanted to pay a lower premium to get that higher deductible.
The insurance companies are in it for the big loss only & what kind of ratio is that showing in comparison to all the small losses?
We gotta have insurance because it is dictated by the Mortgage company, but how about letting the people buy down their deductibles instead of requiring that it be a minimum of 2%???
Just a broke person trying to get a fence back up so the neighborhood critters stay out of my yard & my dog stays in mine!
How about don’t build your house in on the beach hurricane alley
Why is it our fault to make sure you don’t pay out of pocket?
You want to have your cake and eat it too — well you can’t have a house on a barrier island in the Gulf of Mexico without putting some skin in the game. In my opinion 2% is lenient.
Ins co’s are here to protect you from substantial loss. If the insurers had to take on losses under 2% they wouldn’t be around to cover you for the next storm. If you can get 1%, jump all over it. I don’t agree that the claims are being paid by the home owners — in some cases of minimal fence/roof damage that may be true, but I would think a relatively low percentage of the $11 billion estimate is being paid by homeowners.
I do have an independent agent & I did take the policy offered with the lowest windstorm deductible on all the quotes & I live in Tomball, Texas, 100 miles from the gulf…
I’m not asking anyone to pay my way or give me anything, I am just asking why can’t we buy back part of that deductible for windstorm.
If you wern’t so intent on running someone in the ground, you might have asked those questions, but you just ASSumed that you know it all, when in fact you haven’t a clue, because you never asked!
I hope you pull your head out of wherever it it is wedged into & stop jumping to concludions based on what happend inside it & get some facts before you just jump up someone else & start placing fault!
I am surprised that Tomball has 2%. I agree with previous comment that 1% should be available from someone — 60 miles from the gulf is quite a bit, and being the NW side of Houston you’d expect Tomball to be much more likely to fall in the weaker western half of a hurricane.
You are probably better off pocketing the premium you’d pay towards a buyback on your deductible and saving it for a rainy day fund to cover things like Ike.
I think a carrier could offer something like that, but the statistics might not work out to a palatable premium.
I feel your pain as I sure do not have an extra $3,500 laying around, but the 2% deductible enables you to pay the premium you pay instead of a higher one, and if Ike had blown your house away the insurer would be cutting you a check for $170,000.
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Call an independent agent. There are still companies writing a 1% deductible.
Not sure if they are adding in all the required deductibles for all the people that were affected by this storm too, but in the past few years the insurers have put such a high deductible for Windstorm coverage in place that I think the majority of the losses are being paid for by the people in the area.
Our deductible was 2% & although our cdamages only came to a little over $3,900, our deductible was such that we might get back about $450. & we have to replace fencing, have cleaned up the downed trees (3 mature oaks), as well as cleaned up all teh debris that was flying around during the storm & landed in our yard, so I say to the insurance companies out there that they are not doing a service to the insured people when they hike up a deductible to where the bulk of the cost on claims comes out of the pocket of the insured, unless the insured wanted to pay a lower premium to get that higher deductible.
The insurance companies are in it for the big loss only & what kind of ratio is that showing in comparison to all the small losses?
We gotta have insurance because it is dictated by the Mortgage company, but how about letting the people buy down their deductibles instead of requiring that it be a minimum of 2%???
Just a broke person trying to get a fence back up so the neighborhood critters stay out of my yard & my dog stays in mine!
How about don’t build your house in on the beach hurricane alley
Why is it our fault to make sure you don’t pay out of pocket?
You want to have your cake and eat it too — well you can’t have a house on a barrier island in the Gulf of Mexico without putting some skin in the game. In my opinion 2% is lenient.
Ins co’s are here to protect you from substantial loss. If the insurers had to take on losses under 2% they wouldn’t be around to cover you for the next storm. If you can get 1%, jump all over it. I don’t agree that the claims are being paid by the home owners — in some cases of minimal fence/roof damage that may be true, but I would think a relatively low percentage of the $11 billion estimate is being paid by homeowners.
I do have an independent agent & I did take the policy offered with the lowest windstorm deductible on all the quotes & I live in Tomball, Texas, 100 miles from the gulf…
I’m not asking anyone to pay my way or give me anything, I am just asking why can’t we buy back part of that deductible for windstorm.
If you wern’t so intent on running someone in the ground, you might have asked those questions, but you just ASSumed that you know it all, when in fact you haven’t a clue, because you never asked!
I hope you pull your head out of wherever it it is wedged into & stop jumping to concludions based on what happend inside it & get some facts before you just jump up someone else & start placing fault!
Have a good day!
I am surprised that Tomball has 2%. I agree with previous comment that 1% should be available from someone — 60 miles from the gulf is quite a bit, and being the NW side of Houston you’d expect Tomball to be much more likely to fall in the weaker western half of a hurricane.
You are probably better off pocketing the premium you’d pay towards a buyback on your deductible and saving it for a rainy day fund to cover things like Ike.
I think a carrier could offer something like that, but the statistics might not work out to a palatable premium.
I feel your pain as I sure do not have an extra $3,500 laying around, but the 2% deductible enables you to pay the premium you pay instead of a higher one, and if Ike had blown your house away the insurer would be cutting you a check for $170,000.