Thanks for replying, we are good Eric
I’ll try to answer a bit more direct about my philosophy on this . I try to have my carriers assign a deductible of 5K or more to my policies if it will give me a lower rate (some commercial carriers don’t care, but have seen a decent reduction on POH policies - for example).
Between the paperwork and headache of claims (e.g. my time is valuable) and then the unknown risk of how much my policy will go up the next year - I just eat it when the loss is near there. Is this a good answer? I like it for me, but some people may have had better luck with their carriers or a different approach that makes sense for them.
We had a big freeze this winter and had 3-4 instant hot water heaters explode when they froze. The aggregate damage was about $5,000. Ate it and still feeling good about it. First major issue like that in several years too, no claims still.
If I could get a good break on my premium for a 10K deductible I would consider it but haven’t found a carrier for my markets that will do that…