In states most prone to hurricanes and earthquakes, insurers have dropped storm coverage from standard homeowner policies and replaced it with a secondary pool called windstorm insurance.
The industry calls this pool the "market of last resort," and charges separate, often higher premiums and deductibles. Homeowners resort to this option because they cannot otherwise secure hurricane, hail, or tornado insurance for their properties.
Skeptics say insurers should not be allowed to drop storm coverage from the typical suite of property insurance. Others say the industry must offer these specialized policies in high-risk states in order to manage higher damage costs.
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