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What is a deductible tradeoff?
A deductible tradeoff is the choice between a higher deductible (you pay more out of pocket on a claim) and a lower premium, or a lower deductible and a higher premium. This calculator shows the premium savings and how many claim-free years it takes to break even.
What is break-even in years?
Break-even is the number of claim-free years after which your total premium savings from choosing the higher deductible equals the extra amount you would pay if you had one claim (the difference between the two deductibles). After that point, you are ahead if you stay claim-free.
Should I keep a reserve for a higher deductible?
Yes. If you choose a higher deductible to save premium, you should have enough cash or reserves to cover that deductible if you have a claim. The calculator can show whether your stated reserve is adequate relative to the deductible.
How does this apply to commercial property insurance?
Commercial property and business insurance often offer several deductible options. Comparing them with a broker helps you balance premium cost with cash flow and risk. Boardwalk can quote multiple deductible levels from top Canadian carriers.
Can I change my deductible at renewal?
Usually yes. At each renewal you can often switch to a different deductible level, which will change your premium. Your broker can show the options and the impact on price and reserve adequacy.
