Deductible Let’s say you have a $500 collision insurance deductible and you hit another car at a stoplight.
In the wake of trading data with the other driver, you call your insurance agency to report the mishap and document a case.
The claim is approved quickly by the insurer, who then asks you to pay the deductible.
Your repairs cost $3,500 after you pay the $500. The remaining $3,000 would then be covered by your insurance.
Before your health insurance company will cover any costs, you must meet a yearly deductible.
Vehicle protection deductibles work in an unexpected way, as theyre occasion based.
As a result, you’ll have to pay a deductible each time you have a covered claim throughout the year.
