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Senior Advisor
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Registered: ‎05-10-2010
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Have you heard of this?

Got my new homeowners policy today. First change was a $350 premium increase. Secondly they went to a new deductable. 2% deductable of value of the dwelling. A $260 K house X 2% would equal $5200 deductable. Thus a hailed out new roof may cost $20000 and they would pay $14,800 and I would stand the $5200 deductable.

 

Somehow i would rather pay a $1k deductable or $2K deductable oF the loss rather than 2% of the homes value.

 

I haven't heard of such a policy as this. Have you?

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