A deductible buyback policy is an insurance product (often offered as an add-on or separate policy) that reduces or eliminates the deductible you’d normally be responsible for paying on a primary insurance claim.
Here’s how it works:
- Primary Policy Deductible: Most standard insurance policies (home, auto, commercial, etc.) require you to pay a deductible before the insurer starts covering losses. For example, if you have a $10,000 deductible and a $50,000 covered loss, you pay the first $10,000.
- Buyback Coverage: A deductible buyback policy reimburses you for part or all of that deductible. Depending on the terms, it may:
- Cover the deductible in full (zero out-of-pocket for you).
- Reduce it to a smaller amount (e.g., take your $10,000 deductible down to $2,500).
- Apply only to certain types of claims (such as wind/hail damage in property insurance, or collision in auto insurance).
- Cost: You pay an extra premium (to the insurer or another carrier offering the buyback), but it can be worthwhile if you’d struggle to cover the full deductible in a loss.
👉 We offer two deductible buyback programs. One specifically for wind/hail home claims and another for all Home and Auto covered losses.
Deductible Defender
Deductible Defender offers a membership that reimburses you for your home deductible up to $2,500.00 flat or up to $1,000 on your auto deductible. Depending on which membership you purchase. Complete the form below and send it to service@seamlessins.com. Click here to download a Deductible Defender Form.
