How does your deductible work in home insurance?
The amount of a policy deductible on a homeowners insurance
policy is chosen by the policyholder. Your policy deductible is the
amount you are responsible for paying before the insurance company
will payout for a claim. If you experience a loss to your dwelling
or your personal property, your homeowners insurance policy
deductible applies. The deductible does not apply to other
coverages on the policy. If you experience a loss under your
deductible, you will not be eligible for a payout. If your loss
exceeds your deductible, your deductible will be deducted from your
claims payout check.