Home Insurance 500 Or 1000 Deductible. Higher deductible plans a way for insurance companies to have populations self select themselves what is the savings of a plan with a $1000 deductible over a $500 deductible? Homeowners insurance companies present their deductibles differently.
Home insurance deductibles are usually quite different than other insurance deductibles. The insurance is paying you 9.2% interest to keep $1. If you plan on having a lot of claims against the insurance, 500 deductible is a better deal.
Higher deductible plans a way for insurance companies to have populations self select themselves what is the savings of a plan with a $1000 deductible over a $500 deductible?
Many homeowners find that their deductible is a flat rate ($500, $1,000, $2,000, and so on); Most insurance companies' rates are about 15% less for a $1000 deductible than $500. While every home insurance policy comes with a deductible, you do have some power in choosing the deductible amount. Deductibles can be as low as $500, or they can be as high as several thousand dollars.
