A question that I get asked often from mostly younger people is, how does my auto deductible work and/or what is it? Your auto deductible is the amount that you will have to pay out of pocket in the event of a claim.
For example, if you have a $500 deductible and $4,500 in damage from a covered accident, your insurer would pay $4,000 for the repairs. You would be responsible for the remaining $500. Deductibles generally range from $250-$1,000 but can vary from there. The deductible is also a factor in the rate. The higher the deductible, the lower the rate, and the lower the deductible, the higher the rate. So, say your deductible is $1,000 – the monthly premium would be lower than if you have a $500 deductible. Get a quote & we’ll find you a policy that meets your needs.
It is important to take in consideration the value of your vehicle, and your budget for out of pocket costs when deciding on your deductible amount. Another thing to think about is glass. Some carriers have glass deductible options that can range from $0 to $50 generally, and glass chips can often be repaired free of charge depending on the carrier.