Deductibles
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Named Storm Insurance Deductible
Named storm deductible is one of the types of deductibles for windstorm insurance. It kicks in if the windstorm has been named by the National Weather Service.
What Happens if I Can’t Afford My Home Insurance Deductible?
If you cannot afford your deductible amount, you should still file a claim with your insurance companies. Speak to your insurer, as you might be able to negotiate a way to not pay the deductible.
Wind and Hail Deductible
A wind and hail deductible is the amount you would have to pay out of pocket in case of wind or hail damage before your homeowners insurance would kick in and cover the rest.
Earthquake Insurance Deductible
An earthquake insurance deductible is the amount of money a homeowner has to pay out of pocket in case of earthquake damage before the earthquake insurance coverage can kick in. Earthquake insurance deductibles are usually set in percentages of dwelling coverage.
All Other Peril Deductible in Homeowners Insurance
Most homeowners are aware that they must pay a deductible before their homeowner insurance pays for a claim. What many people do not know is there is more than one kind of deductible when it comes to homeowners insurance. The most commonly used deductible is an All Other Peril (AOP) deductible. An All Other Peril ... Read more
The Average Recommended Homeowners Insurance Deductible
Your homeowners insurance policy will always have a set deductible for you to decide on. Smart and responsible homeowners know that choosing the right amount of deductible can save you the trouble when an emergency occurs and you need to file a claim. However, if you’re confused over the right amount of deductible for your ... Read more
Deciding On A Flood Insurance Deductible
You’ve purchased flood insurance and properly protected your home and your assets in the event of a flood. Now, if a flood comes along and destroys your belongings and your property, your insurance will cover the complete costs of repairs, right? Not entirely – it all depends on how much you’ve put down for your ... Read more
Flood Insurance Deductible Explained
Water damage is generally covered by your standard homeowners insurance policy. Burst pipes, water seepage from roof damage, or when your roof is totally blown out in the event of a hurricane, you can have a bit of relief knowing that your insurer will be there to the rescue. But while water damage can be ... Read more
Hurricane Deductible Explained
If your home is located in an area that has high chances of being affected by a hurricane, chances are your homeowners insurance policy will include hurricane deductible. As a result of increased popularity and development along the east coast, as well as, areas facing the Gulf of Mexico, this deductible has been added to ... Read more
Is Home Insurance Tax-Deductible?
Your home insurance is not tax deductible if your home is used solely for your personal residence. According to the Internal Revenue Service (IRS), your home insurance premiums are nondeductible expenses. Any payments for insurance, including comprehensive and fire coverage, can’t be itemized as deductions on your tax return. However, there are some cases when ... Read more
