0
How does the deductible in the earthquake insurance endorsement different than property coverage form?
Wiki User
∙ 11y ago
Your standard home policy usually has a set deductible such as $500, $1,000 or $2,500. These are the most common I have seen.
The earthquake deductible is usually a percentage of the total coverage such as 5%, 10%, 15%, 20% or 25%. These are the options I usually see. The deductible is a percentage of the total dwelling coverage. If you have a dwelling coverage limit on the earthquake policy of $200,000 and a 10% deductible, your deductible would be $20,000. There is a company called GeoVera that writes a separate policy for earthquake and offers up two different policies. A comprehensive and standard policy. With the comprehensive policy, they wrap all the coverages up into one lump sum and then apply the deductible to that amount. With the standard policy, there is a set amount for the dwelling coverage and then minimal coverage for the other categories such as contents coverage and loss of use.
You may want to call the agent that writes your current home insurance policy to see what option they have available.
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
Tenant glass coverage in property insurance?
Typically refers to an endorsement on your building insurance policy that provides a reduced deductible for glass damage. Sometimes referred to as a "glass deductible buyback"
Is there a deductible on comprehensive coverage auto insurance?
Usually there is a deductible on comprehensive coverage auto insurance. The deductible can range in different amounts usually from 0 to $1000 or even higher if it is a very expense vehicle.
WHEN health insurance deductible?
WHEN WHEN when is health insurance deductible paid when? When?
Is there a deductible on comprehensive auto insurance?
Yes. Most insurance companies do have a deductible for this kind of insurance. Most deductibles are 500. This can be a normal charge for a deductible.
What is deductible for?
When you have a deductible in your plan, before your insurance starts paying for the coverage, you have to meet the deductible after which the insurance starts paying its portion.
Can you have a high deductible insurance and be on another insurance plan too?
I recommend you this site where you can compare quotes from different comapnies: INSURANCE-QUOTES-FREE.INFO
What is a deductible in auto insurance?
A deductible in any kind of insurance is, basically, the minimum amount before the insurance "kicks in." On any repairs covered by your insurance, you will have to pay the deductible amount before the insurance will pay anything.
What is an insurance endorsement?
An insurance endorsement (also known as a rider) is a document that is attached to an insurance policy which modifies or changes the coverage provided in that policy. An example endorsement is one that is placed on homeowner's insurance which protects the homeowner from floods.
What kind of insurance is tax deductible?
Insurance for one's personal property such as auto or homeowner's insurance is tax deductible. Other tax deductible insurances are medical and dental insurances.
On Illinois Property insurance does earthquake insurance have a deductible?
Yes, normally there is a percentage deductible instead of your regular flat dollar deductible. Most companies offer 5%, 10% and 20% deductibles that will never be less than a specific dollar amount, usually $500. The percentage is multiplied against your Coverage A or Coverage C (if you have a Tenant or Condo-owner policy)amount.
What happens if you cannot afford the homeowners insurance deductible?
Normally when you buy a house, you will be required to get home owner's insurance and pay a deductible. If you can pay the deductible, you may lose your homeowners insurance.
What are my options for Low Deductible Insurance?
A low deductible insurance policy simply means that, a low deductible, possibly $200 as compared to $2,000 which would be a high deductible. Often you are also given the option of choosing 80, 90 or 100% co-insurance. Co-insurance is the amount that the insurance company pays (after deductible) up to whatever is the maximum out of pocket amount.
