How High Should My Homeowners Insurance Deductible Be?
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasThat is a great question! Finding the deductible that is right for you is a very common problem. You want to balance affordability of the policy with the ability to come up with the deductible amount if you need to. My advice is always to set your deductible at the largest amount that you could scrape together if you had to. It doesn't make sense to set your deductible at an amount that you can't pay, if you had to. I hope that helps, thanks for asking!Answered on September 27, 2014flag this answer- 97 POINTSview profileherb neaseagent owner, shelter insurance,Most of the insurance companies now use a claims surcharge program for claims except wind and hail. With this in mind it makes sense to carry a higher deducitble to not only save money but to avoid a claims surcharge for smaller claims. We mostly write a $ 1,000 deducitble as minimum but we are seeing many customers increasing their home insurance deducitble to $ 2,500 especially when they own the property free and clear.Answered on May 30, 2015flag this answer
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