Percentage deductibles apply only to damage done by the peril named. But if a hurricane came through and you had a percentage deductible in place, the deductible would be the 2 or 3 or 4 percent of the dwelling's value. Used for both vacation homes and primary residences, percentage deductibles are in effect in certain regions of Alabama, Arkansas, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Kansas, Louisiana, Maine, Maryland, Massachusetts, Mississippi, Montana, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Oklahoma, Rhode Island, South Carolina, Texas, Virginia, West Virginia, and Wyoming. In the counties that have been hardest hit in the past, homeowners find it difficult to get private insurance at all and must turn to state-sponsored plans, which tend to offer only minimal coverage. For example, State Farm won't write new policies in five Florida counties.
Reality is unlikely to look rosier any time soon.
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