How Do Homeowners Insurance Deductibles Work? 
The deductible is your portion of the loss that you will pay . For example if there is a fire with $ 20,000 worth of damage and you have a $ 1,000 deductible your insurance company will pay $ 19,000 and you will pay $ 1,000 . In some areas you may have varying deductibles depending on the cause of loss . 