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View Poll Results: What is your homeowners deductible?
$1000 or less 26 37.14%
$1001-$2500 17 24.29%
$2501-$5000 16 22.86%
$5001-$10,000 10 14.29%
more than $10,000 1 1.43%
Voters: 70. You may not vote on this poll

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Old 01-01-2016, 09:23 AM   #21
Sarah in SC's Avatar
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,479
I have $6k deductible on HO insurance. Liability only on cars.
I also nitpick the contents coverage on HO policy, considering we don't own much of value--thrift store finds, old computers, cheap tv. Sentimental value, mostly, and things that couldn't be bought.
Would only claim if loss was catastrophic--insurance is hard to get along the coast, and it would take a big loss to get me to get on their radar.

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Old 01-01-2016, 11:56 AM   #22
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Join Date: Jan 2008
Location: Chicagoland
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Was tempted to go to 4% (just over $10K) but upped from $2500 to 2% (just over $5K in our case)...

But I may get bolder as time goes on, the money for a loss doesn't mean much, and we've never had any claims to speak of...

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Old 01-01-2016, 02:30 PM   #23
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Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 17,906
Ours is only $1,000. We have had two minor claims in over 30 years... one where our electric panel blew and another where our well was struck by lightning.

I seem to recall that I once inquired about the impact a higher deductible would have on our premium and it didn't make much of a difference... but our premium is only $725 to begin with.
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Old 01-02-2016, 04:24 PM   #24
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Join Date: May 2008
Location: Treasure Coast
Posts: 386
My policies have a feature where if the loss exceeds a certain amount, they waive the deductible. I don't recall the details (annual review coming very soon) but I think any loss over $50K is the trigger.
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Old 01-02-2016, 06:18 PM   #25
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Join Date: May 2011
Location: Salem
Posts: 39
We have increased our deductibles on both our HO and Auto. However, there is no reason to go to a high deductible if the premium savings is negligible. Going from $500 to $1,000 or even $2,500 may make sense, but the savings above those deductibles may not be worth it. I agree to cancelling collision on an older vehicle, but comprehensive damage coverage is usually dirt cheap. Replacing a window / windshield can be expensive!

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