Why raise your deductible?

Upping the deductible on your homeowners policy can lower your annual premium and, over time, your total costs, even if you file a claim. This table shows how a low, midrange, and higher deductible affect the total you would pay (in cumulative premiums and deductible) if you filed a claim in any of the first eight years of a typical policy. Red bars show when total costs become less than those for the low-deductible option.

This article appeared in Consumer Reports Money Adviser.