Raising your deductible could lower your monthly premiums since you assume more responsibility for the costs of repairing your home and replacing damaged property.
If you choose a higher deductible, make sure you have enough money set aside to cover it if you have to file a claim.
If you couldn’t afford the deductible, you couldn’t file an insurance claim and might have to live in a house with major damage.
The amount you could save by raising your deductible depends on where you live.
Contact your insurance company or agent and discuss a range of deductibles and how they could affect your premiums.
