Your deductible is what you pay toward a covered claim before insurance pays. A higher deductible usually lowers your premium.
How to decide
- Get prices for two or three deductibles
- Work out the yearly premium saving
- Divide the extra deductible by the saving to find the break-even in years
- Choose a deductible you could pay from savings tomorrow
Try it
Our deductible calculator compares two options.
Watch for
Some policies have separate, higher deductibles for wind, hail or hurricanes, often a percentage of the home's insured value.
General educational information, not insurance advice. Coverage depends on your policy and state. Savings Nestle isn't paid by any insurer, agent or broker.