Multifamily Property Insurance

A named storm deductible is a percentage of your insured value. On an apartment building, that percentage gets big fast. Say the property is insured for $10 million. At 5%, you pay the first $500,000 of storm damage yourself. At 7.5%, you pay $750,000. Your carrier picks the percentage. Your lender sets the cap. And when the two don't match, your closing can stall. How a named storm deductible works When a storm named by the National Hurricane Center damages your property, th