What is collision deductible and comprehensive deductible mean?

Question

I'm tryin to look at rates for car insurance and i have no ideal what that stuff mean.

My choices were no deductible, 100, 200, 250, 500, 100, or no coverage. I don't know any of this stuff.

*1000 not 100

Answer 1

The deductible (Collison and comprehensive) is simply the amount of payment that you have to make in the event of an accident or loss. Typically, the higher you elect to pay, the lower the premiums. If for example, you are hit by another car, from behind and it is clearly the other driver's fault, with zero deductible, the insurance company will give you the entire amount necessary to repair the car (in their estimation); in the same case, with $100 deductible, you would be responsible for the first $100 of the repair costs, and the same with other amounts.

As a rule of thumb, the younger the driver, the higher deductible is desireable, since younger driver insurance is more costly than that of mature drivers (don't get me started on THAT one!), and the premium is lower. Male young drivers pay the highest premiums, with female young drivers paying the second highest. I hope I've cleared up the problem.

By the bye, GEICO, Allstate, State Farm and all of the major companies usually offer the best coverage; the little guys, while offering lower premiums, also offer less coverage. I'd steer clear of the guys who send insurance coverage via pop-ups on the 'puter, and the "late night" hucksters who offer to "beat any other company's coverage or we'll give you 'X' number of dollars".

Answer 2

A deductible is simply this: the amount you will pay BEFORE the insurance company pays. So if you select a $500 deductible and your total damages are $1000, you agree to pay the first $500 in damages, the insurance pays the remaining $500.

You can have different deductible levels for comprehensive & collision...they do not have to be the same. I would suggest lower comprehensive deductible and a higher collision deductible.

The higher your deductible the lower your insurance premium.

Answer 3

Deductible is the amount of a claim you have to pay out of pocket before the insurance coverage kicks in. So the higher the deductible, the more you have to pay when you have a claim. Example: with a $100 deductible, if you have a loss of $1000, the insurance will pay you $900 after the $100 deductible which is your problem.

The lower the deductible, the higher the cost of the insurance coverage.

Collision is insurance coverage for damage to your own car in case of an accident.

Comprehensive is coverage for theft or casualty to your car not involving an accident (e.g. tree falls on it).

Some folks dont carry collision coverage on an older car because the cost of the coverage can be a large part of the value of the vehicle. Its not worth it to insure against the loss.

Answer 4

A collision deduct is for when you hit another car. usually 500 to 1000. A comprehensive deduct is used if your car was stollen or damage not from an accident (replacing a windshield because of cracks or chips) usually 100 to 500. Also remember the higher the deduct the lower he monthly rates. I also recommend always have rental car coverage on the policy. just in case an uninsured hits you.

Answer 5

Liability insurance protects the other person if the accident is your fault. Liability is required in most states.

Collision insurance "fixes" your car if you get in accident and the accident is your fault. If you get in accident and it isn't your fault, then the other drivers liability insurance pays. Sometimes it can take forever to get a claim paid, so if you want your car fixed ASAP - you might use your collision insurance to pay first, then have your insurance collect from the other driver.

Comprehensive insurance fixes your car if something happens to it that isn't a vehicle accident. You need comprehensive for the things like a broken windshield, tree falls on your car, car gets stolen - lots of things require comprehensive.

The deductible is how much you pay out of your pocket before the insurance pays. If you have a $1,000 deductible and you have $10,000 damage to your car - you pay $1000 and the insurance company pays $9,000. The higher the deductible, the lower your payment will be.

Answer 6

Collision deductible is what you pay for getting your car fixed after an accident with another car or object .
Comprehension deductible is what you pay for damage due to fire theft or broken glass or hitting an animal (Deer ,dog etc)
The smaller your deductible the more your insurance cost

Answer 7

The higher the deductible, the lower your premium. The deductible, is the amount you will pay, before your insurance kicks in, say you get in a wreck, there is 4500 dollars in damage, you carry 500 deductible for collisions, that means you will be responsible for the first 500 dollars of work, insurance covers the rest.

Answer 8

Your premium will be less if you agree to pay part of the cost of repairs. You have a choice as to your out of pocket expenses, lowest is $100 and it goes up from there. Let's say you have a $500 deductible, and cause $850 worth of damage by running into your neighbor's parked car. Insurance pays $350 and you pay the rest.

Answer 9

My scooter stole but I got State Farm Full comprehensive, will state farm deductible and pay me to get another scooter

Answer 10

Hi,
I'm an agent for car insurance and concerning that topic, I would always recommend to have a look at:
http://carinsuranceinstantfaq.com/
It lists you all important websites for car insurance topics. If you click yourself a bit through (or use the search) I'm sure you'll find what you need...
It at least helped me always a lot, best of luck!