When it comes to your auto or home insurance policies, what works best for your budget — having a higher deductible or paying higher premiums each month? The answer depends on a number of factors, and the experienced and friendly agents at Kramer-Myers & Werring-Dickerson Insurance in Batavia, OH, are your trusted source for selecting the best financial solution for you.

It all starts with understanding how deductibles and premiums are connected. The deductible is the amount of out-of-pocket costs you’ll pay before your insurance company starts picking up the tab. For example, if you’ve agreed to a $500 deductible on your home insurance plan and your house sustains $3,000 in roof damage, you pay the first $500 and the insurance provider pays the remaining $2,500. Typically, the same formula applies to auto insurance and other types of coverage.

The higher the deductible the amount, the lower your monthly premiums will tend to be. This arrangement works best for those who can’t afford or aren’t willing to pay higher insurance payments each month. On the flip side, some policyholders may prefer to pay less out-of-pocket costs through their deductible so they won’t have to pay the bulk of expenses associated with an accident.

Ultimately, insurance factors such as affordability, employment income, and your property’s value are important considerations in determining whether you prefer a higher deductible or higher monthly premium. It also helps to look at “what if” scenarios — if you were involved in a car accident or if your home sustained damage, would you have instant access to cash to pay for the repairs?

As an independent agency, Kramer-Myers & Werring-Dickerson Insurance is able to shop from a number of the nation’s leading auto insurance and home insurance providers to secure budget-friendly rates and terms for their clients. They do it without sacrificing comprehensive coverage to protect you, your loved ones, and your property.

With a solid commitment to putting the customer’s needs first and building solid and long-term relationships, Kramer-Myers & Werring-Dickerson Insurance is your go-to local agency for your auto and home insurance policies. For a free quote, call (513) 732-1461 or visit their website to complete the quick and easy online quote form. You can also find the company on Facebook.