Online Insurance Quote — A Higher Deductible Will Give You Lower Rates
January 17th, 2010
A higher deductible will result in a cheaper online insurance quote so choose accordingly when applying. If you have already bought a home insurance policy that gives you adequate coverage, raise your deductible.
Just bear in mind that this is the amount the law requires you to contribute if you file a claim and that your insurance company will not pay if you don’t pay it.
Someone who previously chose a deductible of $500 will save as high as 25% more if they opt for a deductible of $1,000. The higher your deductible, the more affordable your home insurance rate. But before you choose the highest deductible there is, can you really produce it with relative ease if you ever make a claim?.
Let it be as high as you can easily cope with.
Entry Filed under: Miscellaneous