What are home insurance deductibles and how do they work?

What are home insurance deductibles and how do they work?

Home insurance deductibles are the amount you pay out of pocket before your insurance kicks in. They can affect your premium.

How do I choose the right deductible amount?

Choosing the right deductible depends on your financial situation. A higher deductible usually means lower premiums, but you'll pay more if you file a claim.

What happens if I can't afford the deductible after a claim?

If you can't afford the deductible, you may not be able to file a claim. It's important to choose a deductible you can comfortably pay.

Are there different types of deductibles?

Yes, there are different types, such as fixed deductibles and percentage deductibles, which can vary based on the type of claim.

Can I change my deductible after purchasing a policy?

Yes, you can usually change your deductible when you renew your policy, but it may affect your premium.