A percentage wind and hail deductible is calculated by multiplying your Coverage A dwelling limit by the percentage on your declarations page. On a home insured for $400,000, a 1 percent deductible is $4,000, a 2 percent deductible is $8,000, and a 5 percent deductible is $20,000. It is keyed to the insured value of the home, not to the size of the damage, so it does not shrink for a smaller loss.
Why this number decides whether to file at all
If your damage estimate lands below this figure, filing a claim produces no payment and still records a claim against the property, which can affect renewal and pricing. Get a rough estimate of the damage before you report, and compare the two deliberately.
Where to find your percentage
On your declarations page, the summary sheet at the front of the policy, usually on a separate line from the main deductible and labelled windstorm, wind and hail, hurricane or named storm. If it shows a percentage rather than a dollar amount, this calculator converts it. If you cannot find the declarations page, your insurer or agent must provide a copy on request. Full explanation.
Questions
How do I calculate my wind and hail deductible?
Multiply your Coverage A dwelling limit by the percentage shown on your declarations page. For a $400,000 dwelling limit and a 2 percent wind and hail deductible, the calculation is 400,000 multiplied by 0.02, which is $8,000. Use the dwelling limit, which is the cost to rebuild the home, not the market value of the property and not the purchase price.
Is my deductible based on my home's value or the damage?
On the insured value of the home. A percentage wind and hail deductible is calculated from Coverage A and is the same figure whether hail cracked two skylights or destroyed the entire roof. This is the single most common financial surprise in a storm claim, because ordinary intuition says a deductible should be a small first slice of a loss.