Can a homeowner’s insurance company raise the deductible amount on the homeowners policy without approval?

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Can a homeowner’s insurance company raise the deductible amount on the homeowners policy without approval?

I found out that it was raised from $500 to $2000 when I applied for a claim after recent hail damage.

Asked on June 15, 2015 under Insurance Law, Virginia

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

It can be raised when the  current policy year is up, and the homeowner then has the choice of renewing at the higher level or not (i.e. looking for a different insurer). Or it can be raised mid-policy year if the policy itself states that it can raised mid-year under certain circumstances, and those circumstances apply. Otherwise, since an insurance policy is a contract, it cannot be raised while the current contract is in effect.


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