A deductible is the amount you pay out of pocket toward a covered claim before your Damage Protection Plan coverage begins to pay.
Deductibles vary based on the coverage tier you purchase.
For Example: Contents Damage Deductible
Most standard plans include a $150 Contents Damage deductible.
This means that if a tenant causes $1,000 worth of covered damage to your personal property:
- You would pay the first $150 of the repair or replacement cost.
- Your Damage Protection Plan would then cover the remaining $850, up to your plan's Contents Damage coverage limit.
If the total covered damage is less than your deductible, you would be responsible for the full amount of the claim.