{"id":275,"date":"2024-01-02T13:21:29","date_gmt":"2024-01-02T19:21:29","guid":{"rendered":"https:\/\/www.wenatcheeinsurance.com\/blog\/?p=275"},"modified":"2025-04-09T14:57:59","modified_gmt":"2025-04-09T20:57:59","slug":"is-your-homeowners-insurance-deductible-a-percentage","status":"publish","type":"post","link":"https:\/\/www.wenatcheeinsurance.com\/blog\/is-your-homeowners-insurance-deductible-a-percentage\/","title":{"rendered":"Is your Homeowners Insurance Deductible a percentage?"},"content":{"rendered":"\n
\"Deductible<\/figure>\n\n\n\n

In tough times, not everyone has a pile of cash lying about to cover an unexpected loss. How much do you want to pay for your deductible before the insurance company starts paying?<\/p>\n\n\n\n

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talk with Shayla<\/a><\/div>\n<\/div>\n\n\n\n

Example:  You are doing good and own a lovely $400,000 home<\/a>. One day, to your surprise, you find that water has decided to throw a pool party in your basement without your permission. Oh no, it’s a water backup loss! But fear not, you have water backup insurance coverage<\/a> with a 1% deductible.<\/p>\n\n\n\n

Here’s how the deductible plays out in a simple way:<\/h2>\n\n\n\n

The 1% Rule: Your insurance says, “We’ll help, but remember the 1% rule!” This means you’re responsible for 1% of your home’s value before the insurance kicks in. In your case, 1% of $400,000 is $4,000. So, you’re like a bank for the first $4,000.<\/p>\n\n\n\n

The Water Backup Bill: Let’s say repairing all the water damage and evicting the unwanted pool costs $10,000. You might gasp, but hold on!<\/p>\n\n\n\n

Your Share vs. Insurance Share: You pay the first $4,000 (because of the 1% rule). The insurance company, wearing a superhero cape, swoops in to pay the remaining $6,000.<\/p>\n\n\n\n

Note if you have a $1000 deductible then you would only pay $1000 and the insurance company would pay the remaining $9,000!<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The End Result: <\/h2>\n\n\n\n

Your basement is saved, and your wallet is lighter. You’ve learned a valuable lesson about water backups and probably consider buying a lifejacket for your basement.<\/p>\n\n\n\n

In short, with a 1% deductible on a $400,000 home, you cover the first $4,000 of any damage, and then your insurance covers the rest, up to the policy limit. It’s like going to a fancy restaurant and paying for the appetizer, while insurance pays for the main course and dessert.<\/p>\n\n\n\n

For many people in Central Washington<\/a>, it is easier to find $1000 to pay for a deductible rather than 1%. At Wenatchee Insurance, focus on usable and affordable.<\/p>\n\n\n\n

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talk with Shayla<\/a><\/div>\n<\/div>\n\n\n\n

Topics: Water Damage, Home Insurance, Wenatchee Insurance<\/a>, Deductible, NCW, Central Washington, Chelan County, Sewer backup, Allstate, travelers, Hartford,<\/p>\n","protected":false},"excerpt":{"rendered":"

In tough times, not everyone has a pile of cash lying about to cover an unexpected loss. How much do you want to pay for your deductible before the insurance company starts paying? Example:  You are doing good and own a lovely $400,000 home. One day, to your surprise, you find that water has decided […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[224,222,44,53,226,67,221,225,223,220,39],"class_list":["post-275","post","type-post","status-publish","format-standard","hentry","category-home-insurance","tag-allstate","tag-central-washington","tag-chelan-county","tag-deductible","tag-hartford","tag-home-insurance","tag-ncw","tag-sewer-backup","tag-travelers","tag-water-damage","tag-wenatchee-insurance"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t