Raising Your Deductible
Getting homeowners insurance is not as daunting if you know how to get around the fees and the high premiums.
Most insurance companies will try and look for a loophole in the policy so that when the time comes, they will have to pay you a minimal amount.
However, if you raise your deductible insurers will have a hard time lowering your insurance claims.
Your deductibles are the amount of money that you need to pay for a particular loss or damage before the insurance company can start paying a claim.
When your deductibles are high, you can save a lot of money on your premiums.
The standard deductible rate followed by most home insurance companies are at least $500, but if you can raise it to $1,000 you can save as much as 25% on your premiums in the long run.
Check with your insurance provider for the deductibles applicable in your area.
Some disaster prone areas have a separate and a specific amount for deductibles for certain kinds of losses or damages.
There are earthquake deductibles, windstorm deductibles, deductibles for hail, etc.