How does my home insurance deductible work in Nashville, NC?

When choosing a mortgage to protect your Nashville, SC home, you have many choices. One of the most important choices you have is which deductible you want. Understanding what a deductible is and how it can potentially affect you and your family is important. Hedgepeth-Hutson Insurance Services Inc. can answer all your questions and give you the information you need to make an informed decision.

What Is a Deductible?

When you file a claim, you are responsible for paying your part. That part is the deductible. A common deductible might be $500 or $1,000. 

Say, for instance, that you file a claim that a storm damaged your roof, and it will cost $5,000 to repair the damages. If your deductible is $500, you will pay $500 and your insurance company will pay $4,500. 

Choosing a Deductible

When you are already facing a crisis, it can be even more stressful when you have to come up with part of the money to pay for the damages. You want to find a deductible you are comfortable with. However, the lower your deductible, the more your premiums will probably cost.

You will need to pay more per month to have a smaller deductible. You probably shouldn’t file a claim if your damage is less than the deductible.

Choose a Deductible In Nashville, SC That You Can Afford

If anything should happen to your home, you will depend on your insurance to help you recover and get back to normal. If your deductible is too high, you may have trouble making the payment. At the same time, you don’t want to pay more for your premium than necessary. If you have questions or want to compare different policies, please call Hedgepeth-Hutson Insurance Services Inc. today.