Video Transcript:
Making it through a hurricane certainly feels like a waking nightmare, but there is a different type of nightmare awaiting many hurricane victims when it's time to file insurance claims.

Give me 60 seconds to explain why you should find out if you are responsible for a hurricane deductible.

If you have no idea what I'm talking about, you are not alone.

But insurers in 19 states and the District of Columbia are allowed to add hurricane deductibles to your policy.
(((Alabama, Connecticut, Delaware, Florida, Georgia, Hawaii, Louisiana, Maine, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Texas and Virginia)))

They are not cheap, we're talking 1 - 10% of your home insured value.
That means you could be on the hook for tens of thousands of dollars before you see a penny from your insurance company.

Now a hurricane deductible can mean different things in different states, sometimes it goes into effect if the damage is from a hurricane categorized by the National Weather Service or the U.S. National Hurricane Center.

But sometimes this deductible could go into effect if it is just a named storm.
Think I'm splitting hairs here, but remember SuperstormSandy was a named storm that reached hurricane strength but made landfall as a Tropical storm.
Again, this could be the difference between you having to pay thousands of dollars or not.

So check your policy now, and know what you are getting into.

 

You can find more of my tips on TheStreet.com.
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