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Is there a deductible with this insurance?
Your policy will include a deductible -- the amount of a covered loss you must pay before insurance payments begin. With a $500 deductible, for example, you pay the first $500 of each covered loss. Higher deductibles such as $1,000, $2,000 or more are also available.
By increasing your deductible, you can lower your premium. By going to a $1,000 deductible from $500 you can save significantly. As you select your deductible, try to balance the savings with your ability to share in a loss. The trend nationally is toward higher deductibles.
This content is only a general description of coverages and is not a statement of contract. All coverages are subject to the terms, provisions, exclusions and conditions in the policy itself and any endorsements.
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