Home & Auto Deductibles Explained

We get it. Insurance can be confusing but we’re here to help you with that. All these terms thrown around like premium, deductible, etc. can be difficult to understand at times. Especially if you’re going through a claims process that can already be stressful. We want to take some time to break down the term deductible for home and auto insurance in this article. Understanding what these mean and what kind you have before damages occur is important. This will ensure that you are less stressed and more informed during the claims process. First, let’s look at what the term deductible is.

Deductible: a specified amount of money that the insured must pay before an insurance company will pay a claim.

HOME

Flat: The same deductible applies to all losses

Split: Higher wind and hail deductible and a lower deductible for other losses

Percentage: Deductible is a percentage of the dwelling coverage; it can change with coverage changes. Deductibles do not apply in liability situations

AUTO

Comprehensive: Deductible for weather damage, theft, vandalism, or hitting animals

Collision: Deductible for accidents involving a motor vehicle striking another motor vehicle

We hope this clears up any confusion on home and auto insurance policy deductibles. Don’t hesitate to reach out if you have questions about your deductibles or any other insurance needs in general. It’s our pleasure to help our clients navigate through their insurance journeys.