This is home insurance deductibles
unpacked You picked your place based on what felt
right, but your home insurance deductible needs to be the right fit too. When you
pick your policy, the deductible is the dollar value that you’d pay prior to the
insurance coverage kicking in. It’s a good idea to choose the highest
deductible that you could comfortably pay for if you had a loss, because a
higher deductible now can save you money on your annual premium. It’s typically a
flat amount. Some policies also have percentage based deductibles, which are
based on the insured value of a home. So if your home is insured for $300,000 and
your policy has a 1% deductible, you’d pay up to $3,000 of a claim. There are
also disaster deductibles that vary by state and insurance company. For example,
hurricane deductibles may be offered or required on homeowners policies in
coastal areas. You took the time to find a place with the perfect kitchen, so take
the time to decide on the right deductible too