As a full-service independent insurance agency in Jennings we offer the best options for car and homeowners insurance in Jennings Louisiana and the surrounding areas.
Call Jeff Davis insurance at 337-824-4455 or click on Jennings homeowners insurance quotes.
In five minutes or less you will receive quotes from top-rated companies in our community.
Choose Your Hurricane Deductible Wisely!
Picking the wrong hurricane deductible can cause financial hardship down the road, so it’s important to pay close attention to the type of hurricane deductible you have on your Jennings homeowners insurance policy.
Due to the potential for catastrophic losses, insurance companies require hurricane deductibles on every homeowners insurance policy in Louisiana.
The deductible can be either a percentage of your home building coverage, or it could be a flat amount such as $1000, $2000, or $5000 deductible.
This is where you need to exercise caution when shopping for homeowners insurance in Jennings Louisiana because you could mistakenly receive a highly competitive quote only to later learn that your hurricane deductible was not the same as your previous policy.
Price Difference between a Percentage Deductible and a Flat Deductible.
Let’s assume you receive a large rate increase and decide to shop around for more competitive pricing for house insurance in Jennings and you receive two quotes from different companies.
The first company recommends a $1000 hurricane deductible. Their price is $1648 for the year.
The second company recommends a 3% hurricane deductible. Their price is $1324 for the year.
On the surface it seems more logical to pick the second company since they are offering coverage for $324 less.
However a 3% hurricane deductible applied to the $300,000 building coverage limit would mean that the homeowner would incur a $9000 deductible in the event of hurricane damage.
The first company recommended a flat $1000 hurricane deductible so the only out-of-pocket the homeowner would incur by keeping their insurance with the first company would be $1000!
So as you can see it’s important to make sure that you choose your hurricane deductible wisely.
Choosing the wrong hurricane deductible in the short term can cost you far more money in the long term.
Call Us Today When You Need Homeowners Insurance in Jennings Louisiana!
The Jeff Davis Insurance agency can provide you better home insurance solutions.
Call us today at 337-824-4455 or click on the below links for home insurance quotes in any of the following areas:
