Maryland Joint Insurance Association

News from the Association

Important Homeowners Notice

Effective October 1, 2010 the Joint Insurance Association has adopted the following homeowner’s deductible changes that may result in adjustments to rates and premium.

- The Standard Deductible is changing from $250 to $500;

- Optional Higher Section I Deductibles $1,000, $2,500, $5,000, $7,500 and $10,000;

- Additional Optional Windstorm or Hail Percentage Deductibles, for all forms except Forms HO4 & HO6, of 7.5% and 10%;

- Additional Optional Windstorm or Hail Fixed-Dollar Deductibles, for all forms except Forms HO4 & HO6, of $7,500 and $10,000.

In addition, effective March 1, 2010, the Joint Insurance Association adopted the Homeowners Loss History Rating Plan which recognizes three years of both Property and Liability losses of a new or continuation applicant, which will result in an adjustment in premium. The following losses shall not be considered eligible for rating under this plan; windstorm or hail, mine subsidence, sinkhole collapse, as well as medical payments to others. Also, the combined claim payments for each loss being considered have to equal or exceed $500.

Please contact your Insurance Producer or the Association for more information.

Losses resulting from Flood or surface water are not covered by any Association policy.