Sen. Blumenthal blasts State Farm's hurricane-deductible policy
U.S. Sen. Richard Blumenthal (D-Conn.) announced today that a national insurance company is subjecting Connecticut homeowners to unfair deductibles after Tropical Storm Irene. State Farm insurance company officials said about 250 state residents are responsible for a special hurricane deductible, a policy the company has refused to waive. If a storm is of hurricane strength within 24 hours of making landfall, state insurance guidelines allow a higher hurricane deductible based on residents' home value. Sen. Blumenthal has asked the company to reconsider. "My issue with this isn't necessarily that there's a hurricane deductible," he said. "But that there was no hurricane, and they're charging a hurricane deductible." State Farm officials said in a statement that, "ripping up insurance agreements introduces uncertainty and confusion everywhere, creating a man-made disaster far worse than any natural one."
The statement added that removing the deductible now would be unfair to those customers who have paid full fees in the past. Blumenthal calls on State Farm to drop deductible