Want to save on your homeowners insurance in Idaho, Washington ,Montana, and Arizona, while retaining the critical coverage's? Changing your deductible may help.

One of Jan’s favorite sayings is “No one ever went broke from paying a deductible on a property claim…”

We are all worried about the bottom line of for all our bills.When we are searching for savings in the insurance space, we are tempted to decrease our insurance limits, especially liability.Don’t!! One of the safe ways you can save money on your insurance bills, without leaving yourself unprotected, is to increase your deductibles on your policies.

Interested? Let’s review how a deductible works in your policy.

Homeowners insurance provides the financial protection you need against many things, including pipes freezing and other water damage, to wildfires and burglaries. Because the deductible amount affects the premium you’ll pay for the year, choosing a deductible amount is one of the most important decisions you’ll make regarding your homeowners insurance. Here’s what you need to know to make a smart decision.

What is a deductible?

A deductible is the amount of money you must pay on an insurance claim before your insurance pays. Unlike your premium, you do not pay your deductible to the insurance company. Instead, that money goes toward the claim. In other words, if your claim is for $5,000 and your deductible is $1,000, your insurance would most likely pay the total amount, less your deductible, to your service provider and then you pay the deductible amount to the service provider. While most Homeowners insurance policies use dollar-amount deductibles, there are also percentage-based deductibles that are based on a percentage of the actual dwelling coverage amount. If you’d like to learn more about your policy options, make sure to contact jan jesberger insurance today!

What is the standard deductible for Homeowners insurance?

Because every home and every policy are different, there is no standard deductible amount. However, an average Homeowners insurance deductible tends to be between $500 and $1,000.

What factors should you consider when choosing a Homeowners insurance deductible?

There are two main factors to consider when choosing your deductible: what you’re comfortable paying out of pocket for a claim, and long-term cost considerations. While you want to make sure your deductible is an amount you’d be able to pay in the event of a claim, the higher your deductible, the lower your premium. That’s why we recommend choosing the highest deductible you’re comfortable paying, which can really save you money in the long-term.

How can we help?

At jan jesberger insurance, our personal lines team of Jan, Melissa, Dina and Kate will answer your questions about how to make insurance work for you. When you choose jji, you get the strength of an independent insurance agency, allowing us to tailor your coverage to your needs. We also work to make sure as your situation changes, so does your insurance. Why not call or text us today? 208-762-2122.

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