Car insurance deductible application
How does the comprehensive and collision deductible come into play?
Marcy
Great question.
Your deductible is the amount that you have to pay for your coverage before the car insurance puts in its share. That means that if you have a deductible of a hundred, and damages of a thousand, then you pay the first hundred and your car insurance company pays the rest. However, if you want to get the coverage amount from the car insurance company, then you need to pay the deductible first. It cannot be paid afterwards.
One of the great ways to get cheaper car insurance premium rates is by raising your deductible to a higher amount. The higher your deductible is, the lower your premiums are. The key is to make sure you can afford a big payment all at once, or if you are better off with hgiher premiums.
Cheers,
Fashun Guadarrama.
Loading ...