What is the deductible for wind under the Citizens Property Insurance Corporation on a home?

The deductible for wind under the Citizens Property Insurance Corporation typically reflects a percentage of the dwelling's insured value. This approach is designed to provide a balance between a manageable out-of-pocket expense for policyholders and the insurance company's need to cover significant losses related to wind damage, especially given Florida's vulnerability to hurricanes and storms.

A 2% deductible for wind signifies that, in the event of a claim for wind-related damage, the homeowner would be responsible for paying 2% of the insured value of the home before the insurance would cover the remaining costs. The choice of $1000 for other perils sets a specific amount for claims that are not wind-related, which allows for easier budgeting for those types of incidents.

This framework encourages homeowners to take some accountability for minor damages while ensuring that the insurance coverage remains robust for major wind events. It appropriately reflects the balance of risk management and offers policyholders clear expectations regarding their financial responsibilities in case of damage.