Let's start with what a deductible is: a deductible is the amount of money you are responsible for when you have a covered loss. When you take on more responsibility by increasing your deductible to higher amounts, your premiums are lower. Insurance, at its core, is designed to protect catastrophic losses - the kind of loss that would financially ruin a family or business if there was no coverage. Carrying a very low deductible can create unnecessary expense.

Consider this example: The wind blows your screen door backwards and it costs $400 to repair the damages. If you carry a $100 deductible, your claim would net you a $300 loss settlement. If you are like most people, you wouldn't consider turning in such a small loss that would only pay you $300, so you are therefore paying for coverage that you would never use.

Using this example, if you increased your deductible to $500, your premium would decrease and you would create more value for your premium dollars. When we at the Spencerport Insurance Agency review your insurance, we focus on creating value, protecting what is important to you, and making you aware of ways to manage your risk so you can focus on living your life.