New Hurricane Insurance Offers $10,000 to $2 Million Payouts Without Damage Assessment

by Anya Petrova
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A new hurricane insurance policy has launched in Puerto Rico that provides payouts between $10,000 and $2 million without requiring a traditional damage assessment, according to local news reports. This model allows policyholders to receive funds based on the event’s occurrence rather than a manual evaluation of physical losses.

How the no-damage assessment payout works

Unlike standard insurance policies that require a claims adjuster to visit a property and verify destruction before releasing funds, this new product bypasses the evaluation phase. According to local reports, the payout is triggered automatically, removing the wait time associated with traditional damage assessments.

How the no-damage assessment payout works

What are the payout limits for the new insurance?

The coverage levels for the new policy vary significantly depending on the plan selected. The available payouts range from a minimum of $10,000 to a maximum of $2 million.

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