Ways to save money on insurance: Increase your deductible

Aug 20, 2012 1 minute read

Deductibles have increased due to the rising costs for claims repairs. If you have a claim, the deductible is the amount you pay prior to the insurance company paying its share.

Fifteen years ago, property claims averaged $4,200 and deductibles were $500. Today, property claims average over $10,000 and deductibles are moving toward $1,000.

If you increase your deductible, you will save money on your premiums. Speak to your insurance advisor to learn more. Speak to your insurance advisor to learn more.