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High Deductible Insurance

April 29th, 2015 at 05:57 pm

I saw this blog post on My Money Blog about how homeowner's insurance should be painfully high. I do have to agree. And increasing it over time as finances get better is a great idea. I think increased ours last year to over $2K. If we weren't moving to a rental I'd do it again. Instead we will now need renter's insurance! I'll need to get a quote on that soon (we are signing that lease tomorrow).

My husband announced to me yesterday that he had a no spend day! It's a miracle. I told him I'd mention it on my blog so you can all congratulate him. He's been on a restaurant spending spree lately. So he is trying to reign it in. Smile

We are expecting another offer tonight on our home. The third one in less than 24 hours. It is exciting but it sure is stressful. Once it is all cleared up for us I will be sure to know. I can honestly say my agent is motivated and is definitely earning her money! And I'm also super glad we hired her. Smile





6 Responses to “High Deductible Insurance”

  1. AnotherReader Says:

    Since a number of insurance companies will often cancel your policy now if you make a claim, most small claims are best avoided anyway. If you have a mortgage, the lender will usually limit your deductible, $2,000 is common.

    Good going on the offers. When you have the cleanest, best maintained, and most organized house in the neighborhood, you get the best offers!

  2. creditcardfree Says:

    Interesting there would be a limit by the mortgage company. I suppose they know many people might not have the cash for a really high deductible! Sad actually. We've never been ones to make any small claims. Our only claim was probably in 2000 for major hail damage to our roof.

    Thanks! It is clearly a likeable home with lots of interest. I think we are getting some great buyers to work with.

  3. nhgirl1970 Says:

    Congrats to your hubby on the no spend. Good luck on selling the house.

  4. snafu Says:

    Delighted you are seeing yet another offer today. Please pass along my yahoo to DH for managing a No Spend Day. It's hard when he's alone and family is far, far away.

    I like the idea of a larger deductible homeowner insurance since there is a significant sum in the Emergency Fund. We currently carry $ 1K deductible and are mortgage free.

    We had a wash machine hose pop off it's drain pipe when we were out and the laundry rm was ankle deep in water. I called insurance information asking the best way to tackle the problem and they write it up as a 'claim.' I was furious.

  5. scottish girl Says:

    I love no spend days! Congratulations to your husband.

  6. LivingAlmostLarge Says:

    Awesome now if I can have such luck

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