How much deductible do you pay in home insurance?
When comparing building insurance, the deductible also plays a determining role. It makes quite a difference whether the insurer pays you the full claim amount, or whether you have to pay €500 yourself. The amount of the deductible can also depend on the cause of damage.
With building insurance you insure your house against damages such as fire, burglary and storm. After a damage, the insurer pays out an amount that you can use to repair the damage. But insurers like to put part of the damage burden on the insured. Applying a deductible for each damage reduces the amount of the claim to be paid out by the insurer. And small claims that do not exceed the deductible do not have to be dealt with by the insurer. This in turn reduces costs for the insurer.
How much deductible do you pay?
There is a standard deductible that most insurers charge There are insurers that have a deductible of €500, but more common is €100 to €300. There are also insurers that set the deductible at zero. When comparing, this makes quite a difference. It is better to pay a little more per month than to have to pay €500 yourself in case of damage. During storms, insurers often charge policyholders a higher deductible.
How much do you pay yourself for storm damage in homeowners insurance?
In building insurance, storm damage is covered by default, but the differences between insurers are large regarding the deductible. Insurers charge an additional deductible in case of storm. This is often a percentage or percentage of the insured amount with a certain minimum and maximum amount. It often amounts to an additional deductible of €225 to €500.
Opting for a lower premium or a higher deductible?
Naturally, you want the lowest possible monthly costs, but at what price? Of course you want to avoid having to pay a lot of euros in the event of a claim. Even if you never have damage, it can happen to you several times in one year. By comparing, you can more easily save on monthly expenses. This way you choose the lowest premium, but have the best home insurance.
How does the insurer offset the deductible in the home insurance policy?
Suppose you have a €2,000 damage to the back door and window frame due to a burglary. If you have an excess of €250, the insurer will only pay part of the bill for repairing. You can pay the rest to the repairer yourself. Or the insurer does pay the bill for repair in full, and then recovers the €250 from you.
So ideally, go for a home insurance policy with no deductible. By comparing on Alpina.nl keeps your premium low.
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