Home Insurance Deductibles: Do You Know Yours?

In recent years, most insurance companies had $250 deductibles, and then they went to $500. And now, some companies have a mandatory $1000 deductible in the market that Whitford Insurance Network serves. There are two schools of thought. Some folks would rather save 10- 20% and carry a higher deductible, rather than and self-insure to that point. And some don't want to self-insure for anything, but they want the lowest possible home insurance deductible, and of course you'll pay a higher price for that option. The higher your deductible, the lower your yearly premium. One thing you'll need to keep in mind, though, is that you'll need to have money available to pay for repairs up to the cost of your deductible if you need to make a claim. Insurance is there to protect you from the unexpected, and you may be caught out if you don't have contingency funds. If money is always tight, buying a policy with a higher deductible may not be the most economical choice. To find out more, give us a call at 610-524-7860 / toll free: 800-221-9542 or contact us online at www.WhitfordInsurance.com.