State by state: high insurance deductible vs premium costs

  • InsuranceQuotes study determined the average ecomonic impact of increasing a deductible and U.S. home insurance premiums in all 50 states.
  • States varied based on the amount of increase in deductible and the probability of natural disasters.
  • North Carolina was the big winner for the highest savings on premiums for homeowners raising their deductibles, and Texas was a big loser, according to the report.

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For a homebuyer, traversing the landscape of insurance, mortgages and all things required to get that set of keys can be a headache to say the least, especially for first-timers. As a real estate agent, it’s your job to provide some unbiased guidance when homebuyers are making decisions such as whether to get homeowners insurance with a higher deductible.