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High Deductible Insurance

1,876 Views | 12 Replies | Last: 1 mo ago by BigNastyNate
GasAg90
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3:54p, 10/13/24
Does anyone have a line on high deductible home and/or car insurance?

Is there such a thing as a $50k deductible on homeowners and/ or something similar for car?
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TxAg20
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7:28p, 10/13/24
AG
I have 2% deductible home insurance through Chubb which comes out to a number over $50,000.

On autos, I just carry liability with high limits and a large umbrella over that. No deductibles on those products.
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a07nathanb
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7:44p, 10/13/24
AG
Many carriers will offer a 5% of the value of the home. I'm sure there's one somewhere that would do a flat 50k
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ChoppinDs40
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In reply to TxAg20 • 7:56p, 10/13/24
AG
TxAg20 said:
I have 2% deductible home insurance through Chubb which comes out to a number over $50,000.

On autos, I just carry liability with high limits and a large umbrella over that. No deductibles on those products.


$2.5mm home? Humblebrag.
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bam02
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9:20p, 10/13/24
AG
If you have any balance on a home or auto with a lender they may limit how high your deductible % is.
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SteveBott
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9:43p, 10/13/24
AG
It's been years but last I checked 4% was maximum for a mortgage. Obviously no lien you do what you want.

FYI you really don't get much discount on deductibles higher than 2%.
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CS78
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10:33p, 10/13/24
I do 5% on rent houses and personal home. Max liabilities. Policies average around 600-900/ year for homes in the 200-300k range. Travelers and USAA.

Ive had some lenders care in the past and some not. Or some wont say a word for years and suddenly it's an issue. They seem to be very inconsistent.
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TxAg20
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In reply to ChoppinDs40 • 8:58a, 10/14/24
AG
ChoppinDs40 said:
TxAg20 said:
I have 2% deductible home insurance through Chubb which comes out to a number over $50,000.

On autos, I just carry liability with high limits and a large umbrella over that. No deductibles on those products.


$2.5mm home? Humblebrag.


*sniff sniff* Slider, you stink.
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JMac03
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6:49p, 10/14/24
AG
I would love to leave my kids money, but it's not high on my radar. We did start accounts for them last year, but in our name so our oldest can't pull it out since he's 20. We do plan to pay for college.

I want to enjoy our retirement. I'm happy to have some left but not my sole focus.
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PeekingDuck
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In reply to GasAg90 • 2:51p, 10/15/24
AG
GasAg90 said:
Does anyone have a line on high deductible home and/or car insurance?

Is there such a thing as a $50k deductible on homeowners and/ or something similar for car?
It really doesn't bring the premiums down like you'd think it would for home insurance.
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bam02
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In reply to JMac03 • 5:45p, 10/15/24
AG
JMac03 said:
I would love to leave my kids money, but it's not high on my radar. We did start accounts for them last year, but in our name so our oldest can't pull it out since he's 20. We do plan to pay for college.

I want to enjoy our retirement. I'm happy to have some left but not my sole focus.


I think you replied to the wrong thread, though these crazy insurance rates might affect a lot of peoples potential inheritance.
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JMac03
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10:13p, 10/15/24
AG
Bahaha. Yes I sure did.
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BigNastyNate
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10:30p, 10/16/24
AG
My sisters premium jumped to $9kish.

She asked Travelers for options and they said changing the deductible to 2% for Wind/Hail would decrease the premium to $3,500.

All other claims still 1%.
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