(630) 620-4800
mail@wilk4800.com
Steve Wilk Insurance AgencySteve Wilk Insurance AgencySteve Wilk Insurance AgencySteve Wilk Insurance Agency
  • Home
  • Products
    • Life & Health
    • Home Insurance
    • Auto Insurance
    • Business Insurance
  • About Us
    • Carriers & Claims
  • Blog
  • Contact

Your Complete Guide to Homeowners Insurance Deductibles

    Home Home Insurance Your Complete Guide to Homeowners Insurance Deductibles
    NextPrevious
    homeowners insurance deductible

    Your Complete Guide to Homeowners Insurance Deductibles

    By Steve Wilk Insurance | Home Insurance | Comments are Closed | 27 July, 2020 | 0

    Buying a home comes with the responsibility of getting an insurance that will make sure any damages incurred will be taken care of. However, when you get homeowners insurance, you need to consider deductibles.

    What Is a Homeowners Insurance Deductible?

    A homeowners insurance deductible is the amount you need to pay before you can claim money from your plan. For example, if you have filed a claim for $1500 and your homeowners insurance deductible is $1000, you will recover $500 from the claim.

    What Are Its Types?

    There are two types of deductibles on your homeowners insurance: fixed and percentage. Your fixed deductibles can be $500, $1000, or $2500. 

    Percentage deductibles can be useful when your house is at risk of a specific kind of damage like wind, hail, or flood. Plus, when you have an expensive house and can manage smaller costs or damages, a percentage deductible will significantly lower your premiums.

    For example, if you have a $1 million house, you can opt for a 1% insurance deductible, which is $10,000. You can’t claim anything below $10,000, but your premium will be lower, giving you the room to take care of smaller expenses. Higher the deductible, lower the price of your premiums.

    Who Pays the Deductible?

    The person who owns the house or the policy will pay for the deductible. However, you do not pay this amount in cash. This money is simply deducted when you file a claim. For example, if your deductible is $1000 and you file a claim for $2,500, you will get back $1,500.

    What Is the Standard Homeowners Insurance Deductible?

    There is no standard amount for the homeowners insurance deductible. Most companies offer deductibles that go upwards from $1000. Some also offer deductibles as low as $250 or $500.

    Limit your claims as much as possible to lower your premiums. Want to learn more about homeowners insurance or deductibles? Contact the experts at Steve Wilk Insurance. You can also visit our office at 310 S Main Street, Suite C, Lombard, IL 60148.

    Share this:

    • Click to share on Twitter (Opens in new window)
    • Click to share on Facebook (Opens in new window)

    Related

    homeowners insurance, homeowners insurance deductible
    Avatar

    Steve Wilk Insurance

    Steve Wilk Insurance Agency is crucial to discovering the best policy for your specific needs. We put our knowledge and experience in your corner to deliver the best possible options.

    More posts by Steve Wilk Insurance

    Related Post

    • Homeowners Insurance

      How Much Homeowners Insurance Do You Need?

      By Steve Wilk Insurance | 0 comment

      Does your homeowners insurance cover the mortgage, repairs, and rebuild? If not, you need to prevent underinsuring your home. Many do not have homeowners insurance coverage that caters to damage due to disaster. There areRead more

      Share this:

      • Click to share on Twitter (Opens in new window)
      • Click to share on Facebook (Opens in new window)

    • how-homeowners-insurance-affect-your-trampoline-buying-decisions

      How Does Your Homeowners Insurance Affect Your Trampoline Buying Decisions

      By Steve Wilk Insurance | Comments are Closed

      Trampolines are increasingly becoming a part of households. While they can help you have fun in your backyard, they also carry certain risks. Read on to learn more about trampoline coverage and your homeowner’s insuranceRead more

      Share this:

      • Click to share on Twitter (Opens in new window)
      • Click to share on Facebook (Opens in new window)

    • How Home Improvements Can Help You with Home Insurance Credits

      Learn How These Home Improvements Can Help You Save with Home Insurance Credits

      By Steve Wilk Insurance | Comments are Closed

      Keep your homeowners insurance rates low with these home insurance credits. When it comes to your home, it’s important that you protect it with the right homeowners insurance. Your insurance gives you the coverage thatRead more

      Share this:

      • Click to share on Twitter (Opens in new window)
      • Click to share on Facebook (Opens in new window)

    • Get Ready for Summer Entertaining with These Backyard Barbecue Tips

      Get Ready for Summer Entertaining with These Backyard Barbecue Tips

      By Steve Wilk Insurance | Comments are Closed

      Backyard barbecue tips to ensure that your home is ready for summer entertaining. Summer is right around the corner, and it’s time to start getting ready for outdoor entertaining. From barbecues to pool parties, it’sRead more

      Share this:

      • Click to share on Twitter (Opens in new window)
      • Click to share on Facebook (Opens in new window)

    • Mold and Mildew Prevention Tips to Protect Your Home

      Mold and Mildew Prevention Tips to Help You Keep Your Home in Great Shape

      By Steve Wilk Insurance | Comments are Closed

      Use these mold and mildew prevention tips to keep your home safe. When it comes to keeping your home in tip-top shape, it’s important to keep it clean and dry. Water damage can lead toRead more

      Share this:

      • Click to share on Twitter (Opens in new window)
      • Click to share on Facebook (Opens in new window)

    NextPrevious

    Newsletter

    Recent Posts

    • Understanding When Life Insurance is Taxable
    • How Much Homeowners Insurance Do You Need?
    • All You Need to Know About the Medicare Advantage Plan
    • 5 Stay-at-home Ideas to Celebrate Valentine’s Day with Your Family
    • What Can You Do if Your Car Insurance Gets Canceled?

    Categories

    • Article Archives
    • Auto Insurance
    • Business Insurance
    • General Articles
    • Health Insurance
    • Home Insurance
    • Homeowners Insurance
    • Insurance
    • Life Insurance
    • Lifestyle
    • Umbrella Insurance
    • Workers Compensation

    Steve Wilk Insurance

    Insurance coverage has many variables and options, thats why when shopping for insurance finding a team like the Steve Wilk Insurance Agency is crucial to discovering the best policy for your specific needs. We put our knowledge and experience in your corner to deliver the best possible options.

    Contact Us

    310 S Main Street
    Suite C
    Lombard, IL 60148

    Phone: (630) 620-4800
    Fax:(630) 620-4805
    Email: mail@wilk4800.com

    Latest News

    • Understanding When Life Insurance is Taxable February 25, 2021
    • How Much Homeowners Insurance Do You Need? February 18, 2021

    Directions

    • Products
      • Life & Health
      • Home Insurance
      • Auto Insurance
      • Business Insurance
    • About Us
      • Carriers & Claims
    • Blog
    • Contact
    © 2015 SMS | All Rights Reserved
    • Home
    • Products
      • Life & Health
      • Home Insurance
      • Auto Insurance
      • Business Insurance
    • About Us
      • Carriers & Claims
    • Blog
    • Contact
    Steve Wilk Insurance Agency