What are home and renters insurance deductibles?

Your homeowners or renters insurance deductible is what you pay out of your own pocket for a loss or repair that's covered by your policy. Suppose you have a $1,000 deductible for home insurance or renters insurance and the cost of covered damages comes to $3,000. Your insurance company would subtract your deductible of $1,000 from the total cost of the covered damages and pay out $2,000.

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Signed check for homeowners insurance deductible payment

How does a deductible work for homeowners insurance?

Your homeowners insurance deductible or renters insurance deductible will apply for each claim you file. Your insurance company will only pay for covered losses above your deductible. If your home is completely destroyed (resulting in a total loss), your insurer may pay up to the limit of your coverage, minus your home insurance deductible.

What is the standard deductible for homeowners insurance?

Homeowners deductibles generally range between $500 and $5,000, depending on your insurer. Keep in mind that your homeowners insurance policy includes several coverages, and not all of them will have a home insurance deductible. Here's the breakdown:

Home insurance coverages that generally have a deductible

Home insurance coverages that typically don’t have a deductible

How does a deductible work for renters insurance?

Renters insurance deductibles are applied the same way as homeowners and condo insurance deductibles. If you file a claim on a covered loss, your insurer will pay you the amount above your deductible, up to your policy’s limit.

How to choose the right deductible for homeowners insurance

Deciding on a deductible for home insurance comes down to what you can comfortably afford in both the short term and the long term. You may decide a higher deductible is your best option, as it will lower the long-term cost of your home insurance premium. Just keep in mind that if you have to file a claim, you'll need to have the funds to cover your higher home insurance deductible immediately available.

  1. Do you want to pay less for insurance or less for repairs?

    If you want lower out-of-pocket expenses for unexpected repairs, go with a lower deductible (and higher premium). If you prefer a lower insurance premium, choose a higher deductible, and expect to pay more when you file a claim. Learn how to get cheap homeowners insurance.

  2. How much can you afford to pay out of pocket?

    Generally, your deductible shouldn’t be higher than what you can afford to pay out of pocket because if you file a claim, you'll be responsible for paying your deductible.

    Depending on your state and the insurance company, you might have a separate homeowners insurance deductible for certain perils such as hail or windstorm damage. This may also include damage from tornadoes, damage from hurricanes and earthquakes.

  3. When do you pay the deductible for homeowners insurance?

    Your insurance company will typically subtract your home insurance deductible from the total amount of your claim. You would be responsible for the unpaid expenses related to the claim. Learn more about the process for property insurance claims.

Have a question about your home or renters insurance deductible?

If you're a current or new Progressive customer, we can answer questions about your homeowners or renters insurance deductible:

Current Progressive customers

Call us at 1-866-749-7436 and we'll talk through your questions.

New Progressive customers

Get a homeowners insurance or renters insurance quote online or call us at 1-866-749-7436.

Quote homeowners insurance online or call for advice

Learn more about home insurance policies.