Deductible Dilemma

Deductible Dilemma

  • SHANNON FOSTER-BOLINE
  • 09/4/17
The purpose of insurance is to shift the risk of loss to a company in exchange for a premium. Most policies have a deductible which reduces the amount of the claim that is paid by having the insured share in the first part of the loss.
 
In the process of managing insurance premiums, policyholders often consider higher deductibles to lower the premium. Lower deductibles mean less money out of pocket if a loss occurs but also results in higher premiums. Higher deductibles result in lower premiums but require that the insured bear a larger part of the loss.
 
 
A small fire in a $300,000 home that resulted in $2,500 of damage might not be covered if the policyholder has a 1% deductible. If the homeowner can afford to handle the cost of repairs in exchange for cheaper premiums, it might be worth it. On the other hand, if that loss would be difficult for the homeowner, a change in the deductible could be considered.
 
Homes in high-risk flood areas with mortgages from federally regulated or insured lenders require additional flood insurance. However, each homeowner needs to assess the risk of being able to financially sustain a flood loss on their home when flood insurance is not required. The recent events in South Texas and Louisiana are evidence that the unexpected can happen.
 
It is important to review your deductible and discuss risks with your property insurance agent so that you’re familiar with the amount and make any changes that would be appropriate before a claim is made. The FEMA website has information and frequently asked questions about flood insurance.
SHANNON FOSTER-BOLINE

SHANNON FOSTER-BOLINE

About The Author

ABOUT SHANNON FOSTER-BOLINE

Buying or selling a home is one of the most significant financial decisions people make — and it deserves thoughtful, strategic guidance, not pressure.

I’m Shannon Foster-Boline, a Realtor serving the Greater Knoxville area, including West Knoxville and surrounding communities. I work with buyers, sellers, and relocation clients who value clear communication, strong preparation, and a calm, informed approach — especially in higher-value and more complex transactions where details truly matter.

My role goes far beyond opening doors or managing contracts. I help clients evaluate options, anticipate challenges, and make confident decisions aligned with their long-term goals. Many of my clients are busy professionals, move-up buyers, and established homeowners who want an experienced advisor they can trust to manage the process efficiently and thoughtfully.

With more than 1,100 homes sold and over $270 million in lifetime sales, I bring deep local market knowledge and real-world experience to every transaction. I’ve represented a wide range of clients — from first-time buyers to luxury sellers — and I tailor my approach to fit each client’s priorities, timeline, and decision-making style.

MY APPROACH

Clients often describe working with me as steady, strategic, and reassuring.

I believe:

  • Strategy matters more than urgency

  • Local market insight matters more than national headlines

  • Clear communication reduces stress and leads to better outcomes

  • Preparation creates leverage — whether you’re buying or selling

My approach is best suited for clients who are prepared to engage thoughtfully in the process — with clear financial readiness, defined priorities, and an appreciation for strategic guidance.

I’m especially well-suited for clients navigating:

  • Move-up purchases and higher-value sales

  • Coordinated buy-sell timelines

  • New construction and well-designed modern homes

  • Established and architecturally distinctive neighborhoods

  • Complex negotiations requiring experience and composure

EXPERIENCE & LEADERSHIP

In addition to client work, I’ve been deeply involved in real estate leadership and education throughout East Tennessee. I’ve served in multiple leadership roles within East Tennessee Realtors® and Tennessee Realtors®, including President of East Tennessee Realtors®.

I hold several advanced professional designations, including:

  • Certified Residential Specialist (CRS®)

  • Graduate Realtor Institute (GRI®)

  • Accredited Buyer’s Representative (ABR®)

  • Real Estate Negotiation Expert (RENE®)

  • Senior Real Estate Specialist (SRES®)

These credentials reflect my commitment to education, ethics, and professional excellence — but my focus always remains on delivering thoughtful guidance and strong results for my clients.

BEYOND REAL ESTATE

Outside of work, I’m a mom, partner, and avid gardener who values community, connection, and a well-lived life.

I love travel, historic architecture, and exploring neighborhoods — both locally and abroad. Those experiences shape how I connect with clients who are navigating meaningful transitions and making big, often emotional, decisions.

CONSIDERING A MOVE?

Whether you’re actively planning a move or simply thinking ahead, I believe good decisions start with good information.

If you’re looking for an experienced, steady, and strategic real estate advisor — someone who values quality over volume — I’d be honored to help. If you’d like to better understand my approach and who I work best with, you can learn more about how I work with clients here.

Work With Us

We understand the elements of the individual needs and the unique process of each transaction. At the end of the day, we want you to walk away feeling that you have received an amazing experience with our team and that you have been able to realize your dream of selling or buying a home!

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