On the Homeowners side, the introduction of the ½ % and 1% deductibles was rolled out years ago and we may find ourselves seeing more of this trend throughout the industry. Some carry $1,000.00 for their collision deductible on the auto insurance for a $30,000 vehicle all while also carrying a deductible of $1000 for a $300,000 home. This is no longer sustainable. This is where the industry is going to shift to the 1%, meaning if your home is Insured for $300,000, you will then have a $3000 deductible. They believe this is in alignment with clients’ financial capacity.

So be aware of your deductible and remember that this will be your out of pocket cost if a claim occurred, so choose wisely for your future self!