Additional losses are associated with an excess (deductible) - release the insurer from the reimbursement of certain loss. When the insured event the company begins to reimburse losses only after the policyholder pays deductible.

Normal franchise is 0.5-1 thousand dollars. At hurricane amount increased tenfold, and may be 1-5 per cent (in Florida - 10 percent) of the value of the insured property. For example, if a house is worth 400,000 dollars, with a five percent franchise owner after Hurricane insurance company has to pay 20 ... Read more »