Hawaii homeowners in path of hurricane may find their insurance is little solace

There’s a good chance your homeowners insurance policy has a hurricane deductible. In 19 states, it’s a given. In others, it depends on your policy.

Either way, that deductible typically ranges from about 1 percent to 5 percent, depending on the specifics of your insurance contract. Some homeowners might opt for an even higher deductible if it’s available.

It’s important to note that the percentage is based on your insured value, not the damage caused. So if your home is insured for $200,000 and you have a 2 percent hurricane deductible, you’ll pay $4,000 even if the damage is $10,000.

This means you need a plan to cover your share in the aftermath of a disaster. Setting aside savings is tricky.Some insurance companies offer policies to cover your deductible.

“People should never take a higher deductible than they can afford,” McChristian said. “Now’s a good time to look at it and make sure you’re comfortable with it.”