Good move—renters insurance is a really valuable investment! Thankfully, a deductible has a similar meaning across all types of insurance. A deductible for renters insurance is the amount of money the insured person has to pay towards a loss claim.
The deductible is a financial sum or a percentage that’s reduced or removed from your claim payout. For example, if a fire damages your $1,000 TV, and your deductible is $500, your insurance provider will pay $500 to cover the TV.
A licensed broker that offers end-to-end support, the Jerry app gathers affordable quotes, helps you switch plans, and helps to cancel your old policy. Even better—Jerry will help you bundle your home and auto policies for maximum savings.