When it comes to purchasing insurance, one of the most important aspects you need to understand is the deductible. Whether you’re buying auto insurance, health insurance, or homeowners insurance, the deductible plays a significant role in determining both your monthly premium and the out-of-pocket expenses you’ll face when making a claim. One of the most common choices for a deductible is the $1000 deductible, which strikes a balance between affordability in premiums and reasonable out-of-pocket costs during a claim. But what exactly does it mean to have an insurance policy with a $1000 deductible, and why do so many people […]