Percentage deductible options are often available on property insurance such as Homeowners or Rental Property. This would mean that the deductible is a percentage of the coverage on the house. For example, if you have a 1% deductible and your home is covered for $200,000 then your deductible is $2,000 (1% of $200,000). Some companies offer 1%, 2%, 3%, and 5% deductible options which sometimes can give significant discounts. You could choose 1 deductible for all covered perils (What is a peril?) or you could choose different deductibles depending on the type of peril. There are options for hurricane deductibles, wind and hail deductibles, and options for a flat deductible on all perils.
Remember that deductibles apply to each claim so make sure you choose a deductible that you can afford. It is important to evaluate the difference in premium for each deductible option. If changing from a $1,000 deductible to a $2,000 deductible only saves you $20 a year then it may not make sense to go with the higher deductible. Below are a few examples of how the 1% deductible calculates based on the dwelling limit.