A median of $321,900 across older West Valley housing. The deductible is the one term on the policy every household can control, and most have never chosen it deliberately.
A flat deductible is a fixed dollar amount. A percentage deductible moves with the value of the house.
Three things about the figure you pay before the insurer does.
A flat deductible is a stated amount: a thousand dollars is a thousand dollars. A percentage deductible is a share of the dwelling limit, so on a three hundred thousand dollar limit a one percent deductible is three thousand. The second rises automatically as the limit does, and nobody is told when it crosses what they could comfortably pay.
Policies sometimes apply a separate, higher deductible to specific causes such as wind or hail. Holding a modest standard deductible alongside a much larger one for the most likely peril is a common and unpleasant surprise.
Raising it lowers the premium, and the saving is only worthwhile if the figure remains payable on a bad day. The honest test is whether you could write that check this month without borrowing.
The number you own on every claim.
And what the percentage amounts to in dollars today.
Wind and hail are the usual candidates.
The only test that matters.
Tell us what deductible you carry now and whether you know what it is in dollars.
We price several deductibles so you can choose rather than inherit one.
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