Question about Car insurance?

Question

Ok, My husband has a 2000 Ford Ranger and the back drivers side rear window got busted out by a baseball(it was an accident) and he has insurance through Geico, well it says on his comprehension coverage that he has a $500 deductable, so what does that mean? Will we have to pay $500 to get it fixed?

We have only had insurance with Geico for 3 months

Answer 1

i'm not even sure if your car insurance will cover that but if it did you would have to pay up to the first 500 dollars to fix it but it isn't going to cost that much so i wouldn't even bother with a claim. it would just raise your rates anyway

Answer 2

The baseball would be considered a falling object, which is covered under the comprehensive coverage. If you want to report it to your insurance, you call and make a claim and either take it to one of their shops or the appraiser comes out and takes a look at it. The first $500 you are responsible for, the rest the insurance picks up. In some states (such as Arizona) there is what is called a glass waiver...meaning anything that has to do with glass there is no deductible. If I were you, I would first go to a shop and get an estimate and then call Geico to see if you have the glass waiver on your policy. Only make a claim if the damage is over your deductible. The good thing, comprehensive claims don't go against you as an at-fault accident.

Answer 3

Insurance deductibles work like this:

You pay the deductible, and if the service/repair costs any more than that, the insurance company pays the rest.

So if that window replacement costs $300 (it won't be that cheap), you pay $300 and Geico pays $0
If it costs $800, you pay $500, Geico pays $300
If it costs $15,000, you pay $500 and Geico pays $14,500 (of course if it was that much, they would just "total" the value of the truck, but that's something different entirely).

By now you're probably saying, "Well what the hell is the purpose of insurance then!?"
Understandable, but keep this in mind - the less the company is liable for, the less you pay per month.

So if you had that same plan, but with only a $300 deductible, you'd be paying them more a month for insurance.
On the other hand, if you upped your deductible to $800, you're insurance payment would be lower.

Hope that helps!

Answer 4

You always are responsible for the deductible, regardless of fault - your comprehensive coverage and your collision coverage have their OWN deductibles WHICH YOU CHOOSE. Think of it this way - if you didn't have comprehensive coverage - you would have to pay the whole thing! So yes - if you want to get the vehicle repaired, you have to pay the $500. Well a more accurate description - you pay the first $500 and your insurance covers anything more. SO if the damages are only to the back side window and the repairs are $100, then you pay the $100. If you didn't understand how the coverage worked, you should have asked your agent.

This is standard across all insurance companies. This is not something that is Geico specific.

Answer 5

$500 deductible means you pay the first $500 and the insurance pays the rest for a covered loss. When you buy a policy, you choose the amount of deductible from among several choices. The higher the deductible, the less the insurance costs, but then you have to pay more when you have a claim. He apparently chose a high deductible on comprehensive in order to reduce the cost of the policy.

I'm not sure how much it costs to replace a window like that, but I'd think it's less than $500 in which case you will have to pay the whole thing and probably don't even want to tell the insurance company about it. (I don't know exactly how it works, but from what I've heard, they keep track of how many claims you have and will raise your rates or cancel your coverage if you have too many, even if they are small or even if they don't have to pay anything at all! That seems like a bad deal to me, but I've heard that it's true. If it is, then you don't even want to tell them about it unless you are going to get a substantial amount of money from the claim.)

Answer 6

Yes, a deductible is the amount you pay for a claim. If the claim (amount needed to fix the problem) is more than your deductible, the insurance company pays the rest. Since your deductible is $500, if the window costs $650 to be fixed, you pay the bulk at $500, and the insurance company will cover the rest ($150); this isn't just with Geico, it's with all insurance companies, but a $500 deductible is not bad at all.

Answer 7

The deductable is the amount you will have to pay before the insurance company puts out a single cent. Insurance will cover expense BEYOND the $500 deductable, so if your repairs are less than $500, you'll be paying the full amount.
Keep in mind, too, that if your repairs aren't a lot of money, you're going to be better off paying it out of your pocket, anyway. If you make a claim against your insurance, you can guarantee that your insurance will be raising your rates. Better to pay $200 one time for the repair (for example,) than to pay hundreds (if not thousands) in higher insurance premiums for years to come.

Answer 8

It will not cost $500 to get fixed
you will have to pay for any damages out of your own wallet

deductible means:
If its $500 and a accident quote is $1500 .. you pay the $500 and the insurance company picks up the $1000

Answer 9

A $500 deductible means you pay the first $500 and the insurance covers after that. A back window is only going to cost $200 or less so you will have to pay for it yourself.

Answer 10

Comp deductibles may or may not come with full glass coverage; find out if you have this (it often says FG on the policy, but not always).

$500 deductible means you pat the first $500 of damage to your vehicle before the company kicks anything in. But Full Glass coverage has a $0 deductible. Call GEICO, give your policy number, say you're not filing a claim but have a question about tyour coverage, and ask if you have Full Glass as part of your comp.

Answer 11

you need to confirm the insurance internet site of your state, get a telephone selection, telephone them up and spot how and in case you could self insure, in some places you will no longer ought to be wealthy considering insurers themselves in elementary terms conceal you as much as $15.000 that's a ridiculously low sum of money. RE: What makes vehicle insurance vehicle insurance? I continuously questioned. to no longer brag or something, yet my kin is so wealthy that we actually do no longer desire vehicle insurance. If something have been to take place we could have the potential to guard it. So extremely we waste 1000's of greenbacks each and every 3 hundred and sixty 5 days on vehicle insurance. Is there a manner we could have our very own insurance card to subject to a police? What makes vehicle insurance companies in a position to function and not me?