What is the purpose of a "hurricane deductible" in homeowners insurance in Florida?

A hurricane deductible is specifically designed to address the unique risk associated with hurricane-related damages. In Florida, homeowners insurance policies often include a separate, higher deductible for claims made due to hurricanes. This means that when a policyholder experiences damage from a hurricane, they are responsible for paying a larger portion of the loss before insurance coverage kicks in.

This type of deductible is implemented to manage the increased financial risk that insurers face due to hurricanes, which can cause extensive property damage. By having a higher deductible for these events, insurers can keep premiums more manageable while still providing coverage for significant losses caused by severe weather conditions.

The other options do not accurately reflect the purpose of a hurricane deductible. For example, increasing overall premium costs would not be the primary aim of establishing a separate deductible. Similarly, reducing coverage limits is not a characteristic of deductibles, and offering a discount for non-hurricane claims does not relate to the intention behind a hurricane deductible. Hence, the focus on specifying a higher deductible applicable to hurricane-related damages is correct.