Rhode Island Limits Hurricane Deductibles to One Per Year
A new state law in Rhode Island will provide safeguards to homeowners when they suffer damages from hurricanes. Starting in January 2013, hurricane deductibles will be limited to only once per hurricane season to prevent homeowners from being hit with a second deductible in the unlikely event that a second hurricane strikes the state. The law also instructs the Department of Business Regulation to set reporting requirements for claims related to catastrophes where homeowners are unable to receive notice from insurers because they are unable to stay within the structure.
Read more on R.I. limiting hurricane deductibles: R.I. Enacts New Law to Help With Hurricane Claims (Insurance Journal 5/24/12)