What is the average homeowners insurance deductible?
Short answer. There is no single average that fits every home, but flat deductibles of $1,000 to $2,500 are common choices, with higher options used to cut premiums. In hail prone states like Georgia, many policies also carry a separate wind and hail deductible of 1 or 2 percent of the dwelling limit, which is often the one that applies to a roof claim.
Why the "average" can mislead
Many homeowners know their all other perils deductible, say $1,000, and assume that is what they will pay on a roof claim. But if the policy has a percentage wind and hail deductible, a hail claim on a home with a $350,000 dwelling limit at 2 percent costs $7,000 out of pocket. The number that matters most for roof damage is the wind and hail figure. See percentage wind and hail deductibles.
How to choose your deductible
- Match it to your savings. Pick a figure you could pay the week after a storm without borrowing.
- Do the break even math. Divide the extra out of pocket amount of a higher deductible by the yearly premium savings. If it takes seven or eight years of savings to cover one extra deductible, that is a poor trade in an area that sees hail most springs.
- Think about claim frequency. Small claims add to your claims history. A higher deductible means you will only use insurance for real losses, which some homeowners prefer.
- Check both deductibles. Ask for each in dollars, not just percentages.
What you cannot do
You cannot have a roofer cover it. Georgia law prohibits contractors from waiving, absorbing or rebating a deductible. If a storm claim is likely to land near your deductible, it may not be worth filing at all; see whether a roof claim raises premiums.