I have a 1000 dollar deductible. Do they require that right away? Or do they add it to my premium?
2006-08-10 16:34:00 · 9 answers · asked by Anonymous in Cars & Transportation ➔ Insurance & Registration
You pay that to the repair shop, and the Insurance Company sends a check for the rest, assuming the total bill is more than one grand. You are only responsible for the deductible if it was your fault or "no-fault".
First you get an estimate that the repair shop submits to your insurance company. Once they and you approve it, they order the parts and do the work, then once you approve the job is done, you pay your part and the shop bills the insurance company for the remainder.
SOMETIMES, the insurance company sends you the check and you sign it over to the repair shop. And if the car is "totaled" (meaning the amount of damage exceeds the value of the vehicle) the insurance company sends you a check for the value of the vehicle (possibly minus the deductible -- not sure) and you choose whether to fix the car or replace it.
2006-08-10 16:38:39 · answer #1 · answered by HearKat 7 · 3⤊ 1⤋
The deductible is 'deducted' from the check issued from your insurance company to cover cost of repairs. The deductible is merely your portion of cost to repair the car.
If the other company is paying for your claim/loss, you will not have a deductible. They should pay in full, most likely pay for a rental (if you are over 21) and diminished value.
2006-08-10 16:59:22 · answer #2 · answered by Anonymous · 0⤊ 0⤋
$1000 deductible means that if you car has $2500 damage to it, the insurance company will pay $1500 and you have to pay the other $1000. expect your premium to go up or even your policy to be canceled
2006-08-10 16:40:49 · answer #3 · answered by oldguy 6 · 1⤊ 0⤋
If you have $5,000 worth of damage on your car, the insurance companty will give a check for $4,000. That is your part of having your car fixed. I don't like selling insurance with a $1,000 deductibles, because that is a chunk of money for most people to come up with. If you are still paying for your car, the company's check will have your name on it along with bank's or loan companies' name on it. I hope I explain it clearly enough for you. I hope you weren't hurt in the accident....God bless us all............
2006-08-11 07:31:12 · answer #4 · answered by totallylost 5 · 0⤊ 0⤋
You will have to pay the first 1000 of the repair bill to the repair shop. Insurance will only pay what is left up to the value of the vehicle.
2006-08-10 17:01:32 · answer #5 · answered by wzzrd 5 · 0⤊ 0⤋
You have to pay the deductable when the work is completed on your vehicle. If you weren't at fault in the accident, you won't have to pay the deductable...the other driver's insurance will have to pay for it.
2006-08-10 16:39:44 · answer #6 · answered by Chelle 3 · 1⤊ 0⤋
Damage has to exceed $1000; anything over that the insurance company will pay.
2006-08-10 16:39:34 · answer #7 · answered by yo_momma_is_sweet 4 · 0⤊ 1⤋
it sucks. you have to pay for that at the repair shop. and they pay the rest that is a very high deductable. wish you luck
2006-08-10 16:41:30 · answer #8 · answered by LOLO 3 · 0⤊ 0⤋
Let's say that the repairs cost $3,000.00. You pay $1,000.00 and the insurance company pays $2,000.00. You have to pay it to the body shop to get your car back.
2006-08-10 17:39:00 · answer #9 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Right.. You pay the grand to the repair guy.. But if you were hit by someone else.. You'll pay nothing
2006-08-10 16:40:04 · answer #10 · answered by emanon 6 · 1⤊ 0⤋