What is an insurance deductible?

by Amber Lesnick

In today’s insurance questions video, we're going to talk about deductibles. When you have any insurance policy, whether it is your auto or home, you have to choose a deductible. A deductible is what you are going to have to pay out of pocket before the insurance kicks in.

For example, if a storm causes $8,000 in roof damage and your deductible is $1,000, you pay the first $1,000, and your insurer pays the remaining $7,000.

That's something that you're going to have to pull out of your checking out of your savings. We want you to be able to cover that. The higher your deductible, the lower your insurance premium. So if you're really looking for that overall insurance premium to be a certain number that you're comfortable with paying, you might want to consider raising that deductible.

If you have any real estate or insurance related questions, please reach out to Amber Lesnick at (515) 229-3402 or by email at amber@zealtynow.com.

Amber Lesnick

Managing Broker/Owner

+1(515) 229-3402

What is an insurance deductible?

by Amber Lesnick

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