It’s an unfortunate fact that as Americans we are getting used to managing higher deductibles on our health care. While these large limits help keep premiums down, they also require some financial planning to help ensure you can pay for your yearly medical needs. Home and auto insurance is a bit different in that claims are not as prevalent – we have insurance in case of an unexpected issue, not as a form of maintenance. Increasing the deductible on these policies might make a lot of sense. This tactic can save you money on your premiums while still providing the coverage you need for the rare catastrophe.
|AUTO INSURANCE COVERAGE||DEDUCTIBLE||YEARLY PREMIUM|
|Comprehensive with Glass||$500||$1963|
|Comprehensive with Glass||$1000||$1807.20|
|Comprehensive with Glass||$2000||$1603.20|
|HOME INSURANCE COVERAGE||DEDUCTIBLE||YEARLY PREMIUM|
|$478,800 home value||$1000||$2,842.00|
|$478,800 home value||$5000||$2,372.00|
Health insurance deductibles are tapped into each year – home and auto insurance deductibles are rarely applied. Think about it – many of us have had a minor car accident where we choose not to put the claim in. And when was the last time you had a claim on your homeowner’s insurance? It may make sense to take on a higher deductible to save money on your premiums for these coverages you rarely use but are necessary to have. If you are interested in seeing how this change can affect your home and auto premiums, reach out to us for a quote. Send us an email or give us a call at 317.663.4138.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.