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How does the deductible in the earthquake insurance endorsement different than property coverage form?
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.
What else can I help you with?
What is the earthquake insurance deductible for my policy?
The earthquake insurance deductible for your policy is the amount you have to pay out of pocket before your insurance coverage kicks in.
What is the deductible amount for earthquake insurance coverage?
The deductible amount for earthquake insurance coverage is the amount of money you must pay out of pocket before your insurance policy starts to cover the costs of earthquake damage.
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.
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.
Can you have a high deductible insurance and be on another insurance plan too?
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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.
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.
