Is there a deductible on homeowners insurance, and can there be more than one?
Short answer. Yes, there is always at least one, and many policies have several. The usual set is an all other perils deductible for most losses and a separate wind and hail deductible, and coastal policies may add a hurricane or named storm deductible. Optional coverages like earthquake or water backup can carry their own deductibles too.
The deductibles you might find
- All other perils: the default deductible for fire, lightning, theft, water damage and similar losses. Usually a flat dollar amount.
- Wind and hail: applies to damage from windstorms and hail. Often a percentage of the dwelling limit, such as 1 or 2 percent, and common on Georgia policies.
- Hurricane or named storm: applies when a named tropical storm or hurricane triggers it under the policy's definition. More common near the coast.
- Endorsement deductibles: earthquake coverage, water backup and some roof-specific endorsements may have their own.
Only one applies per loss
For a single occurrence, the policy applies the deductible that matches the cause. If a storm's wind tears the roof and its hail dents the gutters, it is one wind and hail loss with one deductible. When two deductibles could apply, policies typically say only the higher one is used.
Why it matters for your roof
Most roof claims in Georgia come from hail and wind, so the wind and hail deductible is usually the one you will pay. On a $400,000 dwelling limit, a 2 percent deductible is $8,000, which may exceed the damage from a smaller storm.
Where to check
Your declarations page lists each deductible, and the endorsements explain when each applies. See percentage wind and hail deductibles and date of loss.