Cheap Homeowners Insurance — The Wisdom In Higher Deductibles
Pick a higher deductible if you intend to get cheap homeowners insurance rates. If you’ve already bought a home insurance policy that gives you adequate coverage, increase your deductible. Your deductible is the amount you’ll have to contribute if you make a claim before your insurer would be duty-bound to fulfill the terms of your home insurance policy.
You can attract a discount of about 25% in your home insurance rates if only you increase from $500 to $1,000 in your deductible. The higher your deductible, the cheaper your home insurance premium. But before you settle for the highest deductible there is, can you really afford it with relative ease if you ever make a claim? Select the highest deductible allowed if it’s within easy reach.
