Home Owner Insurance – Choosing the Right Deductible

by Jared Balis

Get multiple home owner insurance quotes from a local agent by requesting a free quote!

It’s important to make sure you choose the right deductible when purchasing a home owner insurance policy. Determine if you intend to use your home owner insurance for smaller more frequent claims, or strictly for catastrophic events.

Many people use their home insurance to make claims when their vehicle is broken into. If you intend to use your home owner insurance for this purpose it may be a good idea to choose a lower deductible. However the more claims you make, the more you will pay in premiums in the long run.

Many people choose to use their home owner insurance for catastrophic reasons only. This would include events such as a fire, a burglary, or damage from a windstorm. It’s a smart idea to opt for a higher deductible if you only intend to use your home owner insurance for events like these.

Choosing a higher deductible can save you money on your annual home owner insurance premiums, in turn optimizing your price to coverage ratio.

Consider choosing a deductible of $1000, $2500, or $5000 or higher to keep quality home owner coverage and drastically lower your premium.