What Is a Deductible?
A deductible is the fixed dollar amount (or percentage of insured value) the homeowner must pay toward a covered claim before the insurance company pays the remainder. Deductibles are set by the insurance policy and cannot be waived, discounted, or absorbed by the contractor. Any contractor who offers to waive your deductible is violating Texas insurance law.
Also Known As
These are the search terms and phrases that commonly refer to this topic, so you can find it however you describe it.
How Deductible Relates to Other Topics
A deductible is the homeowner's required out-of-pocket payment. Recoverable depreciation is withheld carrier funds that may be released after work completion. These are separate amounts.
The deductible is the homeowner’s out-of-pocket share of an insurance restoration claim; the carrier pays the approved scope above it.
Related To Deductible
The homeowner's policy deductible applies to an insurance-covered replacement and cannot be waived by the contractor.
Questions about Deductible?
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