You must (always) buy back the deductible from your home insurance, here’s why!

Homeowners who have home insurance are often offered to buy out their excess. But for an unsuspecting person, it is often difficult to determine whether it is actually relevant, especially for their wallet. Gathering as much information as possible on this subject therefore seems essential to avoid unpleasant surprises. Here are some tips to help you make the right decision.

Deductible for home insurance: how does it work?

Home insurance must cover a certain number of damages according to the terms agreed with the insurance company. However, in certain situations, reimbursement or compensation does not correspond to 100% of the value of the damage. There is a portion left for the subscriber to pay. This non-subsidized amount is called “deductible”. It can be determined or calculated based on the total damage caused by the incident.

Under the latter, the insured will therefore not receive compensation from their insurance company. It is therefore important that it is clearly stipulated according to the legal provisions when signing the contract.

Why choose a franchise purchase?

The home insurance contract does not guarantee full protection. Therefore, the companies also offer the option of signing a franchise purchase contract. This will of course oblige the subscriber to pay a higher contribution or to pay an additional premium.

However, in the event of a claim, compensation to victims will be 100%. Regardless of how much the damage costs (also under the deductible), the insurance contributes. It is a bet that is recommended to be made when the future is unpredictable. What lighten its burdens considerably when it is necessary to do important work.

Insurance agreements without excess

The current trend today is to put a deductible on all home insurance contracts. Thus, few companies offer contracts without this small part, which must be borne by the subscriber.

However, there are still opportunities to access franchise-free contracts. It is clear that they must cost significantly more. In any case, the choice is personal, regardless of which solution is chosen. Everything also depends on the funds that the owners have available and the guarantees that they adhere to. There are situations where the deductible remains unavoidable and can very quickly rise to extremely high amounts.

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