How much do you know about getting homeowners insurance? The right policy can give you the peace of mind you need to live comfortably in your home. Ultimately, your home is an investment and you’ll want to protect it. Homeowners insurance allows you to ensure the full value of your home.
In the event of an accident, you will be responsible for paying the deductible and depending on your policy, the typical homeowners insurance deductible can range from $500-$3000. Whether you’re in the market for homeowners insurance or whether you’re already a loyal policyholder, it’s a good idea to be aware of your deductible. In the event of a disaster, you must be able to uphold your policy obligations to receive the full benefit you’re entitled to. Depending on the language of your policy, you may also be responsible for a small percentage of the damage. For this reason, we recommend creating a dedicated savings account and depositing the full amount of the deductible.
To help you select a policy, check out our list of essential coverage components.