Tuesday, March 29, 2016

Insurance Myth #6: Deductibles

Raising your home or auto deductible always saves you money in the long run.

BUSTED


Unfortunately and statistically that isn’t true. A small savings may look better but as you raise your out of pocket expense (deductible), you are transferring the expense of insuring to you! 

Start with 1% of all perils on your home and $500 for comprehensive and collision on your autos. Granted, the cost to insure will be greater but saving a little now with the potential of paying a lot later is an eye opener! 

Auto incidents usually occur in 4 year intervals and home events occur in 7 year sequences (typically weather or water). At GIA LLC we will offer optional deductibles real time so you can factor whether the savings is truly worth the risk!

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