named storm deductible

A named storm deductible is found in property insurance policies. It is a separate deductible that applies when covered damage is caused by a storm, such as a hurricane or tropical storm, that is officially named by a recognized weather authority, such as the National Weather Service. Unlike a standard deductible, it is often calculated as a percentage of the insured property value as compared to a fixed dollar amount. This deductible applies only when the policy's named storm trigger is met. The policy may specify whether the named storm deductible applies per event, per season, or per calendar year.