How Does A Deductible Work On Home Insurance?

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   Phil Tuccy

   Owner, Insurance Group Consulting, LLC, Florida

   When a loss occurs and after coverage is confirmed for the particular loss under the homeowner policy, assuming all policy conditions have been met, the amount paid to the policyholder is the total amount of the loss, less the policy deductible.  The policy deductible is clearly stated on the declaration page of the policy.

   Answered on June 3, 2013

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