When you look at your home insurance policy, you may see a named storm deductible. Many insurance companies have started adding these on to their home policies. In Tennessee, these deductibles are often anywhere from 1-5% of the value of your home which at 5% with a $300,000 house in Kingsport, TN would be $15,000! Keep in mind that this deductible is separate from your deductible for fire, theft, etc. In coastal states the named storm deductible can be even higher.
If you have any questions about the possibility of lowering your named storm deductible, or any other questions about protecting your assets, call us today at (423) 292-4142.
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