The Texas Fair Access to Insurance Requirements Association (FAIR Plan) Required Insurance Plan provides residential real estate insurance to qualified homeowners who cannot purchase insurance from licensed insurance companies. The FAIR plan works across the country, but cannot provide wind and hail supplies in areas eligible for ADMISSION to the TWIA (TWIA covers only 14 coastal districts and 5 municipalities in Harris County [Galveston Bay]). Helpinsure.com, run by the Texas Department of Insurance, has several resources to help coastal residents find insurance against wind and hail. It contains a page of coastal insurance resources containing information on wind and hail coverage and the companies that provide coverage in coastal areas. In New Jersey, hurricane deductibles authorized by the Department of Banking and Insurance are applicable to losses due to a storm called a hurricane by the National Weather Service (NWS), but only if persistent winds of 74 mph have been measured somewhere in the state. According to the Department of Banking and Insurance, the duration of a hurricane includes the period that begins 12 hours before the first hurricane wind of 74 miles per hour or more, measured in New Jersey by the NWS (as hurricane winds continue to reach the risk provided by the policy) for the period during which hurricane conditions exist somewhere in New Jersey , continues and ends 12 hours after the last one. Weather Hurricane winds of 74 miles per hour or more are measured in the state by the NWS. More information can be found on the website. During the Atlantic hurricane season, which runs from June to November, any coastal state from Florida to Maine could potentially be hit by a storm. The growing development along the coasts of these states has put more and more homes at risk of severe damage caused by the storm.
In order to limit their exposure to catastrophic damage caused by natural disasters, insurers in these countries sell homeowners` insurance with percentage deductible rates for storm damage, instead of traditional dollar deduction rates used for other types of losses, such as fire and theft damage. In the case of a policy that, for example, has a standard deduction of $500, the policyholder must pay the first $500 of the right out of pocket.