Flood insurance and hurricane deductible 101

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La Insurance Commissioner talks hurricane deductible and flood insurance

SHREVEPORT, La. (KTAL/KMSS) – Hurricane season is upon us, which is why Louisiana Insurance Commissioner Jim Donelon wants to make sure you’re prepared. 

Here’s what you should know about flood insurance, the hurricane deductible and keeping your home inventory updated: 

Review your insurance coverages. A hurricane deductible is the amount you pay out of pocket before insurance coverage will pay for a claim. Hurricane deductibles are typically 2 to 5 percent of a home’s value rather than a dollar amount deductible.

Purchase flood insurance. Flood coverage is excluded from most homeowners policies and you will need a separate policy to be covered. There is typically a 30-day waiting period before a flood insurance policy takes effect.

Update your home inventory. A home inventory is a list, recorded either on video or on paper, of all of the items in your home.

Take copies of policies along with your agent’s contact information. In case of an emergency evacuation, you’ll want to have copies of your important documents.

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