Deductible vs Premium Calculator
See how different deductible amounts impact your annual premium. Find the sweet spot for your budget.
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help What is a Deductible?
Your deductible is the amount you pay out-of-pocket before your insurance kicks in. For example, with a $1,000 deductible and $10,000 in damage, you pay $1,000 and insurance pays $9,000.
Low Deductible ($500)
Pros: Less money needed for claims, good for frequent filers
Cons: Higher monthly premiums, costs more over time
High Deductible ($5,000)
Pros: Lower monthly premiums, saves money if no claims
Cons: More money needed upfront for claims
Which Deductible is Right for You?
Choose HIGH Deductible ($2,500-$5,000) if:
- ✓ You have a healthy emergency fund ($10,000+)
- ✓ You rarely file insurance claims
- ✓ You want to minimize monthly expenses
- ✓ Your home is in good condition
Choose MEDIUM Deductible ($1,000-$2,500) if:
- ✓ You have a moderate emergency fund ($5,000-$10,000)
- ✓ You want balanced premium and out-of-pocket costs
- ✓ You're comfortable with some financial risk
- ✓ You file claims occasionally
Choose LOW Deductible ($500-$1,000) if:
- ✓ You have limited savings for emergencies
- ✓ You prefer predictable monthly costs
- ✓ Your home has older systems that may need repairs
- ✓ You live in a high-risk area (hurricanes, floods)
Important Disclaimer
These comparisons are estimates only. Actual premium differences vary by insurance company and your complete risk profile.