What is the deductible amount for the first claim under REIX?

The deductible amount for the first claim under REIX is set at $3,500. This means that policyholders are required to cover this amount out-of-pocket before the insurance coverage kicks in for any covered losses. Deductibles are an important aspect of insurance policies as they help to manage risk and are structured to ensure that policyholders share in the financial responsibility when a claim occurs. Knowing this deductible amount is crucial for individuals seeking coverage under REIX, as it affects their overall financial exposure in the event of a loss.