(by Geck Finn)

Homeowners may pay up to 5% deductibles after three devastating hurricanes that hit the U.S. some weeks ago.

The hurricanes Charley, Frances and Jeanne caused damage of tens of billion dollars. Homeowners now may face the paying deductibles of the appraised value of their homes for each hurricane.

Homeowners are shocked as the sum of $12,500 in out-of-pocket expenses per hurricane threatens the possibility to rebuild homes. That may lead to many homeowners to leave the industry.

Insurers say it is impractical for them to charge for each storm because it’s unclear what damage was caused by each storm. "We’re going to treat each claim as a unique claim. But we’re going to thoroughly review each term to see how deductibles and limits apply. Then we’ll take appropriate action," said Allstate spokesman Ryan Priest.

On the other hand, insurers cannot always do so as it is expected to review 1996 law, which allows insurers to charge deductibles for each named storm, after the presidential elections.