Join Early Retirement Today
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

Thread Tools Search this Thread Display Modes
Old 01-01-2016, 09:23 AM   #21
Sarah in SC's Avatar
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,411
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.

“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way

Sarah in SC is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-01-2016, 11:56 AM   #22
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Midpack's Avatar
Join Date: Jan 2008
Location: Chicagoland
Posts: 10,663
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...

No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57

Target AA: 60% equity funds / 35% bond funds / 5% cash
Target WR: Approx 2.5% Approx 20% SI (secure income, SS only)
Midpack is online now   Reply With Quote
Old 01-01-2016, 02:30 PM   #23
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 13,201
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.
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
pb4uski is offline   Reply With Quote
Old 01-02-2016, 04:24 PM   #24
Recycles dryer sheets
Join Date: May 2008
Location: Treasure Coast
Posts: 238
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.
45th Birthday is offline   Reply With Quote
Old 01-02-2016, 06:18 PM   #25
Dryer sheet aficionado
jpjr's Avatar
Join Date: May 2011
Location: Salem
Posts: 35
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!

jpjr is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
homeowners insurance help needed joesxm3 FIRE and Money 6 07-16-2007 11:06 PM
Homeowners Insurance WanderALot Other topics 8 04-10-2007 12:11 PM
Florida homeowners insurance fiasco farmerEd Other topics 11 08-19-2006 04:25 PM
Egads! Homeowners Insurance Momtwo Other topics 7 04-12-2006 03:21 PM
Homeowners Come Up Short on Insurance sgeeeee FIRE and Money 7 08-31-2004 04:55 PM


All times are GMT -6. The time now is 01:16 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.