Homeowners Insurance, What Deductible Do You Have? (Bella Vista: tornado, farm)

[Slytrix]

I have always had high ($5,000) deductibles on my homeowners insurance to save on annual premiums with no expectation of filing a claim unless there was a major loss.

Is this thinking flawed in NWA? It seems with the potential for hail damage a lower deductible may be better.

I have never made a HO insurance claim (knock on wood)

[nmnita]

Originally Posted by Slytrix

I have always had high ($5,000) deductibles on my homeowners insurance to save on annual premiums with no expectation of filing a claim unless there was a major loss.

Is this thinking flawed in NWA? It seems with the potential for hail damage a lower deductible may be better.

I have never made a HO insurance claim (knock on wood)

good for you, that is something to be happy about. Yes, we do have damage from hail here, but not as often as you may think. It takes pretty heavy hail to cause severe damage. In 9 years, we have used our insurence once; it was after the Joplin tornado and almost everyone had to have their roof replaced as well as other repairs especially here in Bella Vista; Well not almost everyone, but a lot of people. We carry a thousand deductible.

[sherrenee]

Originally Posted by Slytrix

I have always had high ($5,000) deductibles on my homeowners insurance to save on annual premiums with no expectation of filing a claim unless there was a major loss.

Is this thinking flawed in NWA? It seems with the potential for hail damage a lower deductible may be better.

I have never made a HO insurance claim (knock on wood)

We have State Farm and our deductible is $500. I've been told by our agent that if we ever change our deductible we won't be able to go back as $500 is no longer offered.