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 thousand dollars.

Governors, who are most affected by the "Sandy" - New York, New Jersey and Connecticut - have announced that the owners do not have to pay a higher deductible insurers. This decision was made due to the fact that the speed of the wind "Sandy" at a time when he reached the north-eastern coast of the U.S., was less than 74 miles per hour necessary to assign the first category of hurricane risk.

U.S. insurers have begun to charge higher franchise since 1992, when Hurricane "Andrew" has caused damage of 15.5 billion dollars, which has resulted in significant losses to the company.

The largest insurance company in the Northeast U.S. - Chubb, Travelers, Allstate. Their losses could be much higher if the wind caused damage to homes, not water. To insure the house from being damaged by a flood, you must enclose a separate policy, the standard in this case is not enough. Earlier, The Wall Street Journalpisala that, for example, in New York, only one percent of homeowners insured property from water damage in Connecticut - 6-13 percent, NJ - 21-47 per cent.

Source: lenta.ru