$2,500 vs $5,000 deductible

[resjudicata]

@justmeoverhere When I saw those #’s I knew you were in NY lol. I work for a broker in Rocky Point and see prices like that alllll day. It’s insane

 

[snarky1]

@makingachange2018

Where are you located?

^^This. I live in CA and the cost of rebuilding my home if it was a total write-off (fire/earthquake) would be around $650K. My total cost of insurance is under $1500 a year. The deductible for earthquake is high, but that's what you get if the big one hits.

 

[oddman]

@justmeoverhere Just make sure if you raise the deductible that if you want in the future to lower it you can.

 

[chabod]

@justmeoverhere Sounds reasonable to me if you can afford it. Mines not that big a difference between $2500 and $5000 so we have the lower one. We don't make small claims, but on a 10,000+ i'd still rather not pay the extra 2500 out.

 

[heartfullofchrist]

@justmeoverhere There’s an old saying not to buy insurance for what you can afford to replace. Measure it against how quickly you would recoup the extra money spent, in this case in just a few years.

 

[illuminaticlub]

@justmeoverhere I always recommend thinking of future state a bit with deductibles. Yes, you could afford $5k today easily, but the economy isn’t great. If you lost your job and had to take a position making less to make ends meet, would that change? If not, it’s only 2.5 years of savings to absorb that loss, so go for it. If it’s more marginal, it might be better to keep as is. Personally, I’d shop around either way. Good luck!

 

[lana18]

@justmeoverhere That’s a no brainer raise the deductible if your going to stick around.