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Understanding Home Insurance Deductibles

Along with understanding how different types of coverage give your home the protection it needs, it's important to understand how a homeowners insurance deductible is part of your policy. This way you can better financially prepare for the unexpected.

What is a deductible?

The amount of money you'll pay out-of-pocket before your insurance company will pay on the claim.

Need more help with basic insurance terms? Check out our insurance glossary.

Home Insurance Deductible FAQs

Low Deductibles vs. High Deductibles

Choosing your deductible comes down to what you personally can afford in the short term or long term. Here are some things to consider when making your decision.

Lower Deductibles

Pay less out-of-pocket in the event you file a claim
Pay more in premiums over a longer period of time
Pay more each month for premiums
Be able to afford paying more up front in monthly premiums.

Higher Deductibles

Pay more out of pocket if you have a claim
Premiums will be lower each month
May need to save emergency money in case of a claim to cover higher deductible

Still not sure what deductible makes sense for you?

Find an Agent >

Additional Reading

A mother and daughter walking in tandem coming out of their home's driveway

What is Homeowners Insurance

A mother and daughter walking in tandem coming out of their home's driveway

Understanding Homeowners Insurance Coverage

A mother and daughter walking in tandem coming out of their home's driveway

Your Guide to Insurance Basics

A mother and daughter walking in tandem coming out of their home's driveway

Homeowners Insurance Terms Made Simple

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