1. 16470 POINTS
    David Osgood
    Agent, Rural Mutual Insurance Co., Union Grove, WI
    A deductible is the amount of risk that you are willing to assume in the event of a claim. For a renters policy the amount that I recommend to my prospects and clients is five hundred dollars. Your deductible depending on the carrier could be anywhere from zero on up. The higher the deductible typically the lessor the premium for the policy.
    Answered on August 27, 2013
  2. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    There are two main parts to a homeowner’s policy.  Personal property is covered, however if there is a loss the recovery is reduced by a deductible.  Most companies will write a renter’s policy with a deductible of $250-$500.  The other major part to the policy is liability.  That part of the policy covers you for claims involving personal injury or property damage to the limits of the policy without any deductible.
    Answered on August 19, 2014
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