Want to gamble on raising your home insurance deductible? The odds of saving money vary by state.
On average, raising your home insurance deductible is almost guaranteed to save you money up front. Taking that deductible from $500 to $1,000 saves 7% on average, according to InsuranceQuotes. Bump it from $500 to $2,000 and your payments drop 16%, while increasing it from $500 to $5,000 offers 28% savings. Just hope that either nothing happens to your home or that you have enough cash on hand to cover the damage if it does.
