So, I got back on the phone to ask about how much of a difference it would make if we were to increase our deductible as an exercise. Apparently, how much you are allowed to change is dependant on how your policy was underwritten?!
The broker has to type in a number to see if the "computer" will accept it. In our case, she tried inputting a $2000 deductible. It took it. We currently have a $1000 deductible.
We talked about the pros and cons about increasing deductibles for your house , ie.
- What type of damage would you file a claim for?
- Would you file for a broken window?
- I told her I would claim if a tree fell through the house or if it got flooded but other than that, I would replace my own window.
By the end of our conversation, I told her to go ahead with the increased deductible. We will be saving $16.12 a month from what we have been paying and $23.85 a month from what we were going to be paying.
An informal survey revealed one person we knew who has ever filed a home insurance claim. And that was for their house burning down. Do you know of many people who have submitted a claim?