Welcome to Saving Money with Andrew! A reader asks: Hey Andrew, Not sure if you are experiencing this as well, but our homeowners insurance premium went way up this year (by over $1,000). Our insurance broker told us there’s an option to take a higher deductible, meaning that if we have an insured loss, we’d have to pay more before the insurance company started reimbursing us. Going from $5,000 to $7,500 will reduce our annual premium by $297, and a $10,000 deductible would reduce it by $600. Do you have any thoughts?
Saving Money on Insurance - A Reader Asks
Saving Money on Insurance - A Reader Asks
Saving Money on Insurance - A Reader Asks
Welcome to Saving Money with Andrew! A reader asks: Hey Andrew, Not sure if you are experiencing this as well, but our homeowners insurance premium went way up this year (by over $1,000). Our insurance broker told us there’s an option to take a higher deductible, meaning that if we have an insured loss, we’d have to pay more before the insurance company started reimbursing us. Going from $5,000 to $7,500 will reduce our annual premium by $297, and a $10,000 deductible would reduce it by $600. Do you have any thoughts?