Get Your Quote Now

Top Brands

Car Insurance Deductables Explained

So what exactly is a car insurance deductable and what does it mean to you?

What is the deductable?

The car insurance deductable is one of the most important things you will select and it has alot to do with how much your policy will cost. A car insurance deductable is the amount of money you agree to pay out of your pocket. So let's say you are involved in an accident where $5,000 worth of damage is caused. If your deductable is $500, you will be responsible for paying $500 and your insurance company will pay the remaining $4,500. It is important to choose a deductable that you can afford. If you ever get in an accident, you will want your car to be repaired promptly, so having the money for the deductable is very important.

 

 

Home - Faq - Glossary of Insurance Terms - Deductables Explained