What Is A Deductible For Homeowners Insurance?

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   David G. Pipes, CLU®, RICP®

   Business Development Officer, T.D. McNeil Insurance Services, Fresno, California

   The amounts listed on the property sections of a homeowner’s policy (A&B) are subject to a deductible.  If there is a property loss the claim will be adjusted and paid based upon the value of the lost property minus the deductible.  Another way to say this is that you are responsible for the deductible before the company will pay a claim.  Deductibles reduce the cost of insurance by reducing the frequency of claims.

   Answered on May 12, 2014

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