Insurers in South Carolina are required to notify residential real estate policyholders if the policy contains a separate deductible for hurricane, hurricane or wind/hail damage. If included, the insurer must provide an example to show how the deductible works for a policy worth $100,000. The insurer must also include a clear explanation of the event that will trigger the deductible. There are three deductibles for homeowners guidelines regarding wind damage: hurricane, named storm and storm and hail. Named storm retreats are activated when the National Hurricane Center reports that a storm has reached tropical storm strength when winds reach 39 miles per hour (mph). Hurricane dedibles are activated when the National Hurricane Center reports that a tropical storm has reached a hurricane force of 74 mph. Windstorms and hail removal are used when homes suffer wind damage from all sources: hurricanes and tropical storms, tornadoes or other storms. (1) Includes Puerto Rico and the U.S. Virgin Islands and losses incurred by private insurers and state-funded programs, such as the National Flood Insurance Program. Includes hurricanes that have occurred until 2019. Changes are reserved because damage estimates are being developed.

Situation: November 25, 2020. Ranking on insured losses in 2020 dollars. (2) Adjusted for inflation by Aon using the U.S. Consumer Price Index. The Massachusetts Property Inerwriting Association (FAIR Plan) provides real estate in which the owner or business has not been able to find coverage elsewhere. The plan uses a storm/hail that can be detected for any type of wind damage. More information can be found on the website. Mississippi Residential Property Inerwriting Association (MRPIUA): Insured single-family and two-family homeowners in the state who could find elsewhere coverage for storm, hail and fire and expanded coverage. More information can be found on the website. Depending on where you live and the insurer`s insurance guidelines, storm and hail coverage may be excluded from primary residential real estate insurance. Some homeowners may acquire a separate wind storm and hail policy.

It is important to know that this policy would have a separate franchise. If your storm and hail coverage is available in a separate policy, it is often written by the North Carolina Insurance Underwriting Association (NCIUA), also known as the Coastal Property Insurance Pool. The Louisiana Citizens Property Insurance Corporation offers residential and commercial real estate insurance to those who cannot obtain them on the voluntary market. The Louisiana Citizens Citizens Plan and the Louisiana Citizens Coastal Plan are programs of the Louisiana Citizens Property Insurance Corporation.