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Home > Blog > What Should My Home Insurance Deductible be in Fort Campbell, KY?
WEDNESDAY, FEBRUARY 17, 2021

What Should My Home Insurance Deductible be in Fort Campbell, KY?

When you purchase a home insurance policy, you will have the choice of setting your home insurance deductible. A home insurance deductible is a set amount that you will pay after an accident before you can receive compensation for filing a claim. For example, say a storm comes in and damages your home for $2,000. Your deductible is $500. This means that you will have to pay $500 out of pocket before receiving compensation for the remaining $1,500.homeowners insurance from Augustine Insurance

There are varying ranges of home insurance deductibles from $500, $1,000 and $2,000 and beyond. Different insurers and policies allow for different deductibles.

This deductible covers each part of your home insurance policy, including:

  • Liability: Liability insurance covers claims of bodily injury and property damage you may face as a homeowner. For example, if someone is injured on your property, liability insurance can help cover their medical bills as well as protect you from a lawsuit.
  • Dwelling: Dwelling coverage provides compensation for damages to your physical home and its attached structures due to fire, wind, hail, lightning, smoke, explosions, vandalism and more.
  • Personal Belongings: Personal belongings coverage provides compensation for damages to your personal items such as clothing, furniture, decorations, etc. It covers against fire, wind, lightning, smoke, theft, vandalism and more.

What Happens if You Have the Wrong Deductible?

Unfortunately, it is possible to choose the wrong deductible for your home or your policy. A lower deductible may mean higher premiums. Depending on your policy, lower deductibles may not be available. A high deductible can help save money on your monthly premiums, but it also means paying more out of pocket before you’re able to file a claim. You also run the risk of damages to your home insurance claim being denied.

Home insurance claims may be denied for a variety of reasons, but one of these reasons is that you did not meet your deductible.

Living in Fort Campbell, Kentucky, you will have to be wary of many different environmental dangers such as storms and tornadoes. It is crucial to discuss your home insurance policy—as well as your deductible—with your insurance agent. Choosing too high a deductible can make it difficult to pay out of pocket while too low of a deductible can raise your rates each month. Shop around, compare quotes and connect with an insurance agent about your home insurance deductible today.

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Posted 4:17 PM

Tags: home insurance, deductible
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