A: A homeowners insurance deductible is the amount you’ll pay out of pocket before your insurance coverage kicks in. For example, if your home was damaged in a fire (or other named peril), and you previously set your dwelling deductible limit to $1,000. If the confirmed damage comes to $3,000, you’re on the hook for the first thousand dollars, and your insurer pays the rest. For more information on your deductible, please visit our Learning Center.