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What are renters insurance deductibles?

April 26, 2017deductibles Insurance renter

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What are renters insurance deductibles?

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A deductible is the amount you will have to pay out of your own pocket before your renters insurance kicks in. For example, if you have a $500 deductible and fire damages your apartment furniture in the amount of $2,000 the insurance company would pay $1,500 ($2,000 less your $500 deductible).