What is a deductible for car insurance

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You pay the deductible first before the insurance company kicks in the balance of the cost of repairs. If your vehicle needs $3,000 of work, and if you have a $500 deductible, you would pay $500 to the repair shop and your insurer would pay $2,500. If the repairs cost $450 and you have a $500 deductible, you pay the entire bill. Deductibles typically apply to the collision and comprehensive coverages of your policy. If you have gap insurance -- the coverage that pays out if your car is worth less than the loan you have against it at the time it’s totaled -- this might also have a deductible.


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Auto insurance can be a significant cost, and in all states it is required

for anyone who owns a vehicle, whether for.

Auto insurance is used to protect the owner of a vehicle from the costs associated with its replacement or repair due to.

Most car insurance policies have some form of deductible. Learn about car insurance deductibles with help from an insurance professional in this.

Auto liability insurance is the only legally required car insurance protection in most states, but it does not have a deductible amount.

The amount of an auto insurance deductible is important for a number of reasons. Not only is the deductible an important part.

Usually higher deductibles on health, homeowners or auto insurance keep premiums low. These higher deductibles increase the amount you need to pay.

A health care insurance deductible, or co-payment, is the amount of your out-of-pocket expenses at the time you receive medical services or.

Auto collision insurance is a type of coverage that helps pay to repair or replace a vehicle damaged in a car accident.

You can deduct the cost of renting and driving a rental car on your taxes in certain situations. You must keep all.


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Source: ehow.com

Category: Insurance

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