How much do you pay for your home insurance? Many factors go into play when it comes to getting the best rate for your home insurance policy. If you have a good credit score and don't make claims too often, you are likely paying an affordable amount for your policy. However, your deductible is one of the most important components of your insurance savings opportunities. The right deductible could make your insurance easily within reach, but also affordable.

If you raise your home insurance policy deductible to $1,000 or higher, you may be able to reduce your monthly premium by as much as 25 percent (depending on your insurance provider). This figure differs from one insurer to the next and it is directly impacted by your current policy. But, before you consider making this change, keep a few things in mind.
First, you need to be able to afford the higher deductible. If you were to have a significant accident leading to damage above the amount of your deductible , would you be able to safely cover those costs that you’re responsible for paying? If you do not have at least $1,000 in savings that you can use towards necessary repairs, it may be too costly and too risky to raise your deductible to this amount.
Another important consideration is the frequency of claims. According to research, the average homeowner files an insurance claim on his or her home one time every nine years. Now, if you find yourself filing these claims more frequently, having a high deductible may not be a good decision. On the other hand, if you do not file them often, a high deductible may be possible. You can save a certain amount of money each year to tuck away enough for your deductible into a savings account.
The right home insurance policy is one that protects you and your home. Your deductible should not be higher than what you can afford to pay out of pocket in the instance of a claim. It should also not be so low that you are overpaying for the insurance you need.
Time to adjust your coverage? Call Saunders Insurance Agency at 740-446-0404 for more information on Gallipolis home insurance.