Home Insurance Deductible Optimizer
Choosing a higher deductible usually lowers your premium, but it means paying more out of pocket if you file a claim. Enter your current and proposed deductible along with the premium difference to see your annual savings and break-even timeline.
About this calculator
Estimate how much you'd save on annual premiums by raising your insurance deductible, and how long it would take to break even if you file a claim.
Frequently Asked Questions
How does raising my deductible save money?
Insurers charge lower premiums when you agree to pay more out of pocket before coverage kicks in, since it reduces their risk of small claims.
What does the break-even time mean?
It's how many years of premium savings it takes to equal the extra amount you'd pay out of pocket if you filed one claim at the new deductible.
Is a higher deductible always a good idea?
Only if you have enough emergency savings to cover the higher out-of-pocket cost if you need to file a claim.