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. You can also choose to pay an additional $25 per 30-day billing period to reduce your deductible to $0 for Contents Damage and Pet Damage claims only. All other covered claims remain subject to the deductible specified in your policy.
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.
For Example: $0 Contents Damage Deductible Add-On
If you purchased the optional $0 deductible add-on for Contents Damage and Pet Damage coverage and a tenant causes $1,000 worth of covered contents damage:
- You would pay $0 out of pocket.
- Your Damage Protection Plan would cover the full $1,000, up to your plan's coverage limit.
Please note that the $0 deductible option applies only to Contents Damage and Pet Damage claims. All other claim types are subject to the deductible outlined in your policy.