Ohio Insurance Companies Adding Wind, Hail Deductibles
By Dave Larsen, Dayton Daily News, Ohio | |
McClatchy-Tribune Information Services |
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Most companies have implemented this change for both new and renewal business, Denhard said.
The concept of a wind-hail deductible that differs from the all-other-perils deductible has existed for years in
Insurance companies such as
"There is a new normal out there regarding disaster risk in
The
Four of the five costliest years for
Wilson said some companies are raising homeowners insurance premiums upon renewal, while others are looking at instituting wind and/or hail deductibles similar to other states. In addition, some
Homeowners typically are notified about such changes at the time their policy is renewed.
"It is really just another way for customers to manage their premium and their risk," Cass said. Policy holders who choose the deductible would pay lower premiums, she said.
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