19 Miss. Code. R. 1-41.04 - Deductibles
Insurers are not required to include a named storm deductible or a hurricane deductible in a homeowners' insurance policy. However, should an insurer include a named storm deductible or a hurricane deductible in their policy filing, the insurer must comply with the provisions set forth in Miss. Code Ann. § 83-2-3; House Bill 756, 2014 Regular Session; and this Regulation.
A. Named Storm Deductible - a homeowners'
insurance policy may offer a percentage deductible for the peril of wind from a
named storm. If a percentage deductible is provided, the insurer shall offer a
buy-back provision for that deductible as set forth in Rule 41.05 of this
Regulation.
B. Hurricane Deductible
- a homeowners' insurance policy may offer a percentage deductible for the
peril of wind from a hurricane. If a percentage deductible is provided, the
insurer shall offer a buy-back provision for that deductible as set forth in
Rule 41.05 of this Regulation.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.