What is a wind/hail deductible?

A wind/hail deductible is a term used in insurance claims law in Mississippi. It refers to a type of deductible that applies to damage caused by wind and hail, including windstorm, hail, and similar weather events. Wind and hail deductibles are typically set as a percentage of the value of the property or home that is insured. In Mississippi, the most common deductible for wind/hail damage is two percent (2%); however, deductibles could range from one to five percent (1%-5%) depending on the insurance policy and circumstances. When filing an insurance claim for damage caused by wind/hail, policyholders are responsible for paying their wind/hail deductible before receiving compensation from their insurance company. The deductible applies to both partial and total losses, and is used by insurance companies to reduce their financial exposure to wind/hail claims. After a policyholder pays the deductible, the insurance company would pay the remainder of the claim, up to the limits of the policy. To reduce their financial exposure, policyholders may want to consider raising their wind/hail deductible percentage if their insurance policy allows it. Increasing the deductible could result in lower insurance premiums, but it also means that policyholders have to pay more out-of-pocket if they need to file a wind/hail claim.

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What is a wind/hail deductible?

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