The New Jersey Department of Banking and Insurance (“NJDOBI”) is advising insurance companies that they are not to apply the Hurricane deductible contained in their homeowners’ policies to claims made in connection with damage arising from Irene. Generally, under homeowner policies, the deductible for damage caused by a hurricane is greater than the normal deductible contained in the policy. NJDOBI bases this determination on the fact that Irene did not have sustained hurricane force winds (74 mph or greater) when the storm’s winds were recorded in New Jersey. Accordingly, under applicable administrative requirements, Hurricane deductibles should not be applied for property damage claims made under homeowners’ insurance policies.
You can read NJDOBI’s Bulletin here…http://www.state.nj.us/dobi/bulletins/blt11_16.pdf