Deductible savings calculator shows you exactly how much you could save on your homeowners insurance by raising your deductible. A higher deductible means lower premiums, but it also means more out-of-pocket cost when you file a claim. This free deductible savings calculator helps you find the sweet spot where premium savings outweigh the additional risk.
How the Deductible Savings Calculator Works
Our deductible savings calculator estimates your annual premium reduction based on industry-average savings percentages. Doubling your deductible from $500 to $1,000 typically saves 10-15% on your premium. The tool then calculates your breakeven point — the number of claim-free years needed for your savings to exceed the extra out-of-pocket risk. A breakeven under 2 years is a strong move for most homeowners.
When Should You Raise Your Deductible?
Consider using a deductible savings calculator if you have an emergency fund that can cover a higher deductible, you rarely file claims, or your premium feels too high. The average homeowner files a claim only once every 10 years, which means most people save significantly by carrying a higher deductible. Use our deductible savings calculator below to see your exact numbers.
For more information about homeowners insurance, visit the Insurance Information Institute.
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