With a homeowner policy, a deductible applies to the property portion of the policy. A deductible is the amount you would have to pay out of your own pocket before the insurance coverage begins to pay for the covered loss. Typical deductibles are $500, $1,000, 1/2 of 1% or 1%. The standard form policy in Texas comes with a 1% deductible and you "buy down" the deductible for additional premium if you desire a lower deductible. The higher deductible you select, the lower your overall premium.

Return to Homeowners Main Page

Table of Contents

E-Mail to Wayne Northcutt

Last Update: 6/16/98 3:00 PM
Web Author: Wayne Northcutt