Home insurance (credit card, how much, deductible)

[babyface20]

How much deductible is better, $500, $1000 or $2500? (all peril, wind & hail) Do they raise your premium after you make a claim?

I am trying to choose between a lower and higher deductible. I will save about $250/year if I go with the highest deductible, but will it be better in the long run? I am not knowledgeable about these things.

Please help

Thanks

[scarmig]

If you don't have $2500 in cash available *all the time* for unexpected insurance claims, above and beyond any repairs, bills, credit cards, and all of that, then go with that.

Basically, you don't want your deductible to be higher than you have cash available at any moment. The last thing you want to do is have to charge your deductible for a major repair.

[babyface20]

Originally Posted by scarmig

If you don't have $2500 in cash available *all the time* for unexpected insurance claims, above and beyond any repairs, bills, credit cards, and all of that, then go with that.

Basically, you don't want your deductible to be higher than you have cash available at any moment. The last thing you want to do is have to charge your deductible for a major repair.

Thank you.

[bookworm2768]

Second the previous poster. don't gamble on it and then get stuck with not being able to pay the deductible.
Yes your premium will probably go up the year after you claim something.