Your deductible is the portion of a covered insurance claim that you are responsible for paying out of pocket before your insurance company contributes — similar to a co-pay at a doctor's office.
Depending on your homeowner's policy, you may have two separate deductibles that apply to different types of losses. An all-perils deductible typically applies to covered events like fire, theft, or non-hurricane wind damage. A hurricane deductible — which is common in Florida — applies specifically to damage caused by a named hurricane and is often calculated as a percentage of your home's insured value rather than a flat dollar amount.
For example, if your home is insured for $400,000 and you have a 2% hurricane deductible, you would be responsible for the first $8,000 of a hurricane-related claim before insurance contributes a dollar.
Understanding your deductible structure is critical before deciding whether to file a claim. If your roof damage estimate is close to or below your deductible, filing may not make financial sense — and could affect your future premiums. On the other hand, if damage is significant, your insurance payout after the deductible could cover the majority of your replacement cost.
Pull out your current policy and locate your declarations page. It will clearly list your deductibles and coverage limits. If anything is unclear, your insurance agent can walk you through it. Our job is to give you an honest assessment of your roof so you have the facts you need — what you do with that information is entirely your decision.
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