When you have to pay your deductible. Your deductible only applies to damages to your car rather than to someone else's. The general rule is if your insurance company pays for your repairs, then you pay your deductible. When they pay, you pay.
Car insurance deductible amounts are a personal consideration. The right one for you depends on your driving record, location, financial position, insurer and other factors. You can compare quotes from multiple insurers at every deductible level by using the helpful tools at Insurance.com.
Understanding Car Insurance Deductibles. A car insurance deductible is the amount of money you have to pay toward repairs before your insurance covers the rest.. For example, if you’re in an accident that causes $3,000 worth of damage to your car and your deductible is $500, you will only have to pay $500 toward the repair. The insurance company pays the remaining $2,500.
Because accidents happen, choosing a deductible you can comfortably afford is key to tailoring your car insurance to you. If your car is vandalized to the tune of $7,000 worth of damage and you have a comprehensive deductible of $1,000, you'll pay $1,000 and your insurer will pick up the rest of the tab.
Your auto insurance deductible is the amount that you pay out of pocket for damages from a car accident before your insurance company chips in. Example 1: You get into a car accident and are found to be at fault, meaning you have to pay the damages. Your estimated repair costs are $1,400. Your deductible is $500.
Car Insurance Deductible A deductible is the amount you'll pay out of pocket for a claim before your insurance coverage kicks in. "Let's say your deductible is $1,000.
Your deductible is the out-of-pocket amount you agree to pay when you file a car insurance claim. Depending on the coverages you add to your policy, you could have one or several deductibles. And not all coverages have deductibles. In general, the higher you set your deductible, the lower the cost of the coverage.
The auto insurance deductible is the amount of money you will first be responsible for before the insurance company begins to cover costs. Unlike health insurance, auto insurance policy deductibles are normally on a per claim basis meaning you would have to cover these costs every time you file a claim.
Updated: June 2018. Having zero-deductible car insurance means you selected coverage options that don't require you to pay any amount up front toward a covered claim. For example, say you opted for collision coverage with no deductible. If you have a covered claim for $1,500 in repairs, your insurer would reimburse you the full $1,500.