Hurricanes and Named Storms always arrive/hit at an inopportune time. Where do funds for the wind deductible come from?
Without ZERO SELECT WIND DEDUCTIBLE ELIMINATION PLAN, where will you get the funds for current wind deductible: • Savings • Sinking Fund for insurance deductibles (assumes Sinking Fund is adequately and fully funded) • 401K and/or other Retirement Funds • Cashing in CDs • Selling stocks/bonds and/or other assets (market may not be favorable) • Transferring funds from other projects • Borrowing funds from banks or other lending institutions • Borrowing funds from family and friends (assuming they are not trying to pay for their own wind deductibles) • Other sources All or most of the above involve withdrawal penalties, interest loss, loss on value of assets, changing retirement plans, various tax penalties/consequences, increased debt, and possible loss of friends. The Choice is Yours!
