Schumer urges weather agency to keep Sandy labeled a tropical storm - could boost deductibles to $20,000, compared with $1,000 for a tropical storm
I have read some carriers are not going to invoke the higher deductibles. From a pure contract standpoint it would depend upon the wording in their policy. Some policies say "hurricane" and others use terms like "tropical cycline" which includes tropical storms. Also, there is usually a time frame for the higher deductibles to apply. Many say 48 hours before and after a storm is named. The bottom line however for Sandy is that it is more of a water event than a wind event. Therefore, most HO polices will not apply. This is no Katrina when there was quite a wind or water debate. The homes are intact and the water lines will be very definable.