Whether you opt for a percentage deductible or are required by your insurer, you could be in for an unpleasant surprise if there is a large loss to your home.
Percentage-based deductibles are growing in popularity with the homeowners’ insurance industry. It’s imperative that homeowners pay careful attention to their home policies and know how percentage deductibles work.
Homeowners Insurance Deductibles
Deductibles have been a mainstay of the insurance contract for decades. They are what you pay for a loss before the insurance company pays your claim. Many insurance companies offer a flat per-claim deductible, which is considered the standard.
Anne Johnson
Author
Anne Johnson was a commercial property and casualty insurance agent for nine years. She was also licensed in health and life insurance. She went on to own an advertising agency, where she worked with businesses. She has been writing about personal finance for 10 years.
