You have different deductible options for your insurance policy, but what is the most sensible option? You can have either a higher deductible or a lower one. A higher deductible may offset monthly costs but not in the long run. For example, if a tragedy happens then you will be paying more because of your deductible. So, although you paid less per month, you paid more when filing an actual claim Therefore, the lower deductible is more worth it.
Your deductible amount is important. What is an appealing deductible to have? Our owner Pat Brennen explains what deductible he recommends to his clients and why it’s the best option.
What Deductible Amount Is Recommended? – Entrust Insurance, St. Clair Shores
Video Transcription
“I’d say probably 95% of our clients have $1,000 deductible, I recommend that the higher deductible will offset some cost, but you’re taking on far more financial liability than what it’s saving you. So the juice isn’t worth the squeeze. So that’s why we say go with the lower deductible because you wouldn’t want to file a claim and pay $2,500 would only have had saved $100 a year on your insurance. So it minimizes your out-of-pocket and protects you better, keeping your costs relative. I mean, I think anybody would gladly pay an extra 100 bucks a year to not have to pay two or $3,000 for you know, their portion of the claim. But I think a lot of my competitors are just breezing through this. Because they’re not discussing it the client doesn’t know to look for it. And that’s where when they just go out and they buy a policy based on price, and they’re not actually reviewing what they’re buying. That’s where the risk for the clients is very appearing.”
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