GITNUX MARKETDATA REPORT 2024

Statistics About The Average Home Insurance Deductible

Statistic 1

"The average homeowners insurance deductible is $500 to $1,000."

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Statistic 2

"The homeowners insurance average cost per year is roughly $1,249 in the US."

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Statistic 3

"86% of homeowners who have insurance have a standard deductible."

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Statistic 4

"Only 16% of insured homeowners have a low deductible (less than $500)."

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Statistic 5

"4% of insured homeowners have a high deductible of more than $2000."

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Statistic 6

"Homeowners insurance policies typically have deductibles ranging from 1% to 2% of the home's insured value."

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Statistic 7

"Homeowners with a $500 deductible pay, on average, 13% more for their home insurance coverage."

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Statistic 8

"Most homeowners only consider increasing deductible amounts when their premiums increase."

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Statistic 9

"Typically, homeowners with a $1,000 deductible pay 20% less for their home insurance coverage."

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Statistic 10

"The higher the deductible, the lower the premium."

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Statistic 11

"Locating in high-risk areas can induce a percentage-based deductible that may increase the average homeowners insurance deductible."

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Statistic 12

"Raise a deductible to $2500 can save up to 30% on the homeowner's insurance premium."

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Statistic 13

"On average, a $1,000 deductible leads to savings of 25% on insurance premiums."

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Statistic 14

"In high-risk hurricane areas, the deductibles may range from 2% to 5% of the home's insured value."

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Statistic 15

"Hail and windstorm deductibles can be expressed as either a flat amount (often $500 to $2,000) or as a percentage of your dwelling coverage (usually 1 to 5 percent)."

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Statistic 16

"Roughly 60% of U.S. homes are underinsured by an estimated average of 20%; this can impact adequate coverage and deductible choices."

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Statistic 17

"In Florida, the average home insurance deductible is around 2% for hurricane coverage."

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