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The de ni on of a deduc ble used to be simple: It was the dollar amount, stated in your home- owners insurance policy, that
you would pay to repair property
damage before your insurance
coverage would kick in. So if you
had a $500 deduc ble and a re
caused $5,000 worth of damage to your kitchen, you’d pay the rst $500 to x it and your insurance company would pay the remaining $4,500.
However, insurance companies have recently begun o ering di erent types of deduc bles. Here are some trends you might see.
Higher Deduc bles
Deduc bles based on a at dollar amount have been creeping up; where a $250 amount used to be rela vely common, many insurance companies
now encourage their customers to take on at least a $500 or even a
