Deciphering Wind Deductibles

What happens when there are multiple windstorms affecting the same property? What is a wind occurrence? How many deductibles apply to the same type of loss? How do deductibles apply on a blanket policy? These questions and many more arise as Hurricane Irma, Hurricane Jose and Hurricane Maria travel the coastline and hit homes and businesses not just once, but possibly two or more times this season.

 In May of this year, the National Oceanic and Atmospheric Administration (NOAA) predicted 2017 is likely to be an above-normal Atlantic hurricane season, and so far, their predictions are materializing rapidly. This year's season started June 1 and runs through November 30. The NOAA forecasters predicted a 70 percent likelihood of 11 to 17 named storms (winds of 39 mph or higher), of which 5 to 9 could become hurricanes (winds of 74 mph or higher), including 2 to 4 major hurricanes (Category 3, 4 or 5; winds of 111 mph or higher). In their August update, the NOAA increased its forecast to 14-19 named storms, 5-9 hurricanes and 2-5 major hurricanes for this season. Warm water temperatures and vanishing El Nino odds are reasons for the increased numbers.