The Massachusetts Division of Insurance recently rejected a request by the state’s largest commercial home insurer that could have cost customers more money to deal with damages from winter weather, The Boston Globe reported
Webster, Mass.-based insurer Mapfre USA Corp. wanted to add a deductible and require consumers to pay as much as $10,000 of the costs of repairing ice-dam damage before the its coverage kicked in. It was the first time an insurer has proposed an ice-dam deductible, which regulators earlier this month rejected as vague and unfair, The Globe reported.
The plan would have provided consumers with few protections, leaving it to Mapfre, as opposed to independent agencies, to determine whether costly home repairs were tied to ice dams, said Chris Goetcheus, a spokesman for the state’s Division of Insurance. The ice-dam deductible would have been in addition to the standard deductible on homeowner policies.
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