Homeowners Insurance Deductibles Key to Affordable Insurance Quotes

InsuranceAgents.com releases a guide to choosing the right homeowners insurance deductible. End Quote

The higher the home insurance deductible, the more affordable your home insurance rates will be. However, the reverse is true as well

Chicago, IL (1888PressRelease) September 09, 2009 - In an effort to save money on their premiums, too many homeowners will set an impossible home insurance deductible. Typically, it is one that is so high that, in the event of property loss, they can not afford to pay out of pocket. A recent article by InsuranceAgents.com, “Choosing Your Home Insurance Deductible,” encourages homeowners to look beyond today’s smaller savings and keep their eye on bigger savings down the road by choosing a deductible that is “just right.”

“The higher the home insurance deductible, the more affordable your home insurance rates will be. However, the reverse is true as well: the lower your home insurance deductible is, the more expensive your premium will be,” informs the article. “Before assigning a home insurance deductible to your policy, you should first evaluate your budget.”

A home insurance deductible is how much you, as the homeowner, pay out of your own pocket before the insurance provider pays the rest of the claim’s bill. And if the figure is high enough that it lowers your insurance rates but is unaffordable, then you haven’t chosen the right deductible for your financial situation.

“True, the higher your home insurance deductible is, the more you save on your premium. However, don’t get carried away and set a ridiculously high home insurance deductible that you can’t realistically afford just to save in the short term. Because then you’ll only end up losing money down the road,” the article states.

Homeowners who are looking to set an appropriate deductible on their home insurance policy are recommended to evaluate their budget, compare multiple deductibles and policies, set a savings account specifically for the deductible payment, and regularly review their policy.

“Whenever you update your policy, or when it comes time to renew it, check your home insurance deductible and make sure it’s still a figure you are comfortable with.”

Talk to your home insurance agent and discuss what a realistic and feasible deductible figure is for your individual financial situation. For more ways to save money and obtain a great home insurance policy, visit InsuranceAgents.com.

staff contribution: Meha Ahmad

http://www.insuranceagents.com/home-deductible.html

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