Despite living in areas susceptible to hurricanes, one third of homeowners in several coastal states don't know what hurricane deductibles are and how they work.
According to a new study from the Insurance Research Council (IRC) titled "Public Understanding of Hurricane Deductibles, Need for Consumer Education Persists," 34% of homeowners polled in New Jersey, North Carolina, South Carolina, Florida and Texas said they had never heard of hurricane deductibles or were not sure what they were, and 26% admitted they lacked an understanding of deductibles in general (see graphs below).
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