Eddie Brissett, The Brissett Group LLC and First Place Realty Group LLC, Pena Realty Corp.Phone: (617) 816-1426
Email: [email protected]
Email: [email protected]
When shopping for homeowners insurance, it's helpful to know the general home insurance deductible average. In insurance, a deductible is the amount of money you're responsible for paying before you can use your policy's coverage.
Understanding the basics of how deductibles work from one insurance company to the next will help you in choosing a policy and provider. Here are the basics to know:
Homeowners insurance deductibles are either a flat dollar amount or a percentage. The average dollar amount generally ranges from $500 to $2000, and the percentages between 1% and 5%.
You can pay higher than the minimum deductible if you prefer. This can help lower your rates and regular expenses.
Your homeowners insurance deductible determines how much you need to pay out of pocket. This amount is adjusted based on a claim filed versus the amount you pay in premiums.
If you have an emergency fund, you might prefer a higher deductible amount with lower premiums. While you'll need to pay more for a claim, your savings will ease the financial burden.
The average price for homeowners insurance can fluctuate. Choosing a higher deductible can help reduce your premiums by up to 6%.
However, the maximum you save by choosing the deductible is different for each insurance company. Make sure to go over all the details with your chosen provider to get the best possible coverage for your needs.
Eddie Brissett is a native of Newburyport, Massachusetts where he attended Newburyport High School. He graduated from Fitchburg State College (FSC) with both a B.S. in Business Administration and an MBA in the late 1990s. He also played basketball at FSC.
In 2004, his real estate dream began when he purchased his first property- a condo. Working primarily in financial services for nearly 15 years, he transitioned into real estate full-time in 2013. He was the Condo Board Chairman (2005-2018) of the Rich Street Condo Association. He credits his parents and mainly his mom as among the biggest influences in his life. As a licensed real estate agent in several states, he serves buyers, sellers, renters, and landlords throughout the commonwealth of Massachusetts, Rhode Island and Florida.
"From an early age, I learned the value of hard work and standing by your word from my parents. These traits along with teamwork were reinforced from some tough sports coaches that I played for."
He enjoys spending his free time with family, friends, hiking, watching Boston sports teams, and is an accomplished billiards player.
