Have you tried our Deductible Savings Calculator? If not, you may want to start there first. 

But there is one important factor to consider when raising your deductible. You may not have the right coverage for the rest of your policy and this could leave you vulnerable.

You probably think any loss above your deductible is paid for by the insurance company. That’s your grandparents’ home insurance. 

Today, many policies force you to share risk, which means for certain types of claims you may have to pay well more than your deductible. Think of it as being more like health insurance where you have a big co-pay for certain procedures.

What’s In It For You?

Fortunately, it only costs a little extra to get full coverage. These coverages are usually priced attractively, in contrast to the cost of getting that low deductible.

For about the same price as a policy with a $1000 deductible but a high “co-pay”, you can get a policy with a $2500 deductible and no co-pays.

This leaves you a lot better protected and gives you certainty about your worst case scenario.

Would it help to see an example of how these two policies would pay differently for certain types of claims? If so, click here to continue.