2006-12-07 00:23:48 · 10 answers · asked by Rishitha D 1 in Cars & Transportation ➔ Insurance & Registration
I’d like to clear one thing up. Many respondents here are under the impression that you have to pay the insurance company the deductible before they will pay your claim. Not so, simply put the deductible is your out of pocket expense at the time you pay for your car repairs.
2006-12-07 07:19:10 · answer #1 · answered by deanspurrier 3 · 0⤊ 0⤋
Let's say you have a car accident and the repair bill is going to be $1,000 and you have a $200 deductable. That means that you pay $200 and the insurance company pays $800. Or if you have a $500 deductable then you would pay $500 and the insurance company would pay $500.
2006-12-07 00:27:13 · answer #2 · answered by tas211 6 · 0⤊ 0⤋
1
2016-09-25 20:04:23 · answer #3 · answered by ? 3 · 0⤊ 0⤋
The deductible is the amount of money you are responsible for when your car has to be repaired. When an insurance company pays for damages done to your car they 'deduct' the set amount you selected when you purchased the policy (usually $250.00, $500.00, $1,000.00, etc) from the payment they make to you or the repair shop. That amount is what you have to pay when the repairs are done and you pick-up your vehicle.
2006-12-07 11:54:13 · answer #4 · answered by Anonymous · 0⤊ 0⤋
It means that if your deductable is 1000.00, that if you get into an accident, your insurance covers all costs except the first 1000.00...which comes out of your pocket. Provided your at fault for the accident. If not, the other party's insurance covers it and you don't have to pay the deductable.
2006-12-07 00:26:42 · answer #5 · answered by Anonymous · 1⤊ 0⤋
the deductible is the money that you have to pay that the insurance company does not cover when you get into an accident.
2006-12-07 00:33:31 · answer #6 · answered by norb4423 3 · 0⤊ 0⤋
it means that the care insurance company will pay for any damages that occur AFTER you pay your deductible.....so say u had an accident and to fix ur car it costs 1500 and ur deductable is 500, ur insurance company will only pay u 1000 for the accident
2006-12-07 00:25:56 · answer #7 · answered by Kimberly M 3 · 0⤊ 0⤋
This is the amount you will be responsible for should you need to put a claim in with your insurance company. For example, your vehicle is in an accident and its your fault, the damages are $1,500.00 and your deductible is $500.00. The insurance company will send you a check for $1,000.00.
2006-12-07 00:25:44 · answer #8 · answered by niknac 2 · 0⤊ 0⤋
It's the amount you are responsible for paying before the insurance company pays.
2006-12-07 00:24:56 · answer #9 · answered by Anonymous · 1⤊ 0⤋
thats the part you pay before the ins. co. pays, usually an amount set by the insurance buyer.
2006-12-07 00:28:20 · answer #10 · answered by bungee 6 · 0⤊ 0⤋