In an insurance policy, the deductible is the amount that you must pay out of pocket before the insurance company pays.  A higher deductible equals lower premium.

  1. Consider how much you can afford if you have a claim, $250 or $500 or $5,000
  2. How much will I save with a higher deductible?  If the amount you save, for example $300 a year, is at least half of the change in deductible (say you changed from $500 to $1,000 which is a $500 difference) then its a good move.  It will only take two years of savings ($600) to make up for the $500 difference.
  3. What are my chances of having a claim?  Health insurance usually has more claims activity than a homeowner policy.
  4. Still not sure?  Call Brouwer Insurance  (760) 745-5151.