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GULF COAST, TX-With property insurance costs steadily rising,condominium associations, mainly on the coast, are hikingdeductibles to glean lower premium rates. The Catch-22 is manycondo owners don't realize it's happened until it's time to put ina claim.
"A $10,000 deductible is not all that unusual," Charles E.Comiskey, senior vice president of Brady Chapman Holland &Associates in Houston, tells GlobeSt.com. "Property insurancecompanies don't want to sell low deductibles. It would be costprohibitive." And, he adds, high deductibles are equallycommonplace for all types of commercial buildings.
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