We are making changes to our homeowner's insurance policy. We have decided to increase our deductible to $1000, up from $500.
When I first inquired it appreared this change would save us $59.70. In the meantime, we received our renewal notice effective in October. The notice stated the renewal premium would be $717.99!! Whoa, that is an increase of $143.60 from the previous year.
I inquired again about the premium at the time of renewal for a $1000 deductible policy. It would be $658.47. So, even though our insurance premium is going up, it is now going up less since we have switch to a higher deductible policy.
Final increase per year: $84.08. That's about $7 per month. I think we can handle that!!
Changes
August 25th, 2009 at 05:25 pm