What Does Car Insurance Deductible Means? February 14, 2007
Posted by admin in : Car Insurance Claims, Car Insurance Articles, Tips On Car Insurance Selection , trackback
In a car accident, where you are the at-fault driver and have a deductible in your car insurance policy for liability claims, you can offer to pay for the repairs to the other party’s car yourself.
The main factor in determining how your car insurance policy will pay the claim is any deductible that applies. The intent of the deductibles in comprehensive coverage is to encourage drivers tot assume responsibility for smaller, more affordable losses that can occur to a car. This eliminates small claims and paperwork for the car insurance company and helps to lower car insurance premiums.
If the damage to your car is smaller than your deductible or even close to your deductible amount, it makes sense not to make the claim at all. You can shop around and pay cash for the minor repairs and never have to tell the car insurance company. This prevents the car insurance company from noting and records that you had the accident, resulting in lower renewal car insurance premiums for yourself.
Comments»
no comments yet - be the first?