When you file a claim for a covered loss, you may be responsible for a set amount, called a deductible, before your insurance helps pay to repair or replace whatever is damaged or stolen. You choose your deductibles when you purchase your condo insurance coverage, and your Allstate^® agent can help you adjust them to fit your needs. Your deductible for each coverage is listed in your condominium owners insurance policy declarations.

For example, suppose a candle falls in the bedroom of your condo and starts a small fire that causes $5,000 worth of damage to your furniture and drapes. If your personal property deductible is $500, then the insurance will pay up to $4,500 to replace the damaged property and you will pay $500.

Not all coverages have a deductible. However, a deductible always applies to a personal property claim. Typically, choosing a higher deductible results in a lower insurance premium, while you may pay a higher premium if you set a lower deductible.