I have my car insurance with geico and on the "coverage details" page i'm looking at, it says that i have a $500 ded. (comprehensive) and a $1000 ded. (collision). Geico explained this to me before, but I really don't remember exactly what this means. Can someone please explain this to me so I know if I need to make changes or not? Thanks.
2007-10-17 09:52:51 · 6 answers · asked by Essie 6 in Business & Finance ➔ Insurance
Your deductible is what you have to pay before the insurance company pays anything. Your comprehensive coverage covers, fire, theft, vandelism, glass breakage and your collision covers you for "at fault" accidents. Depending on what kind of car you have, the $500 on comprehensive is kinda high. Most windshields don't cost $500. I would think about lowering your deductibles to $250 comprehensive and $500 collision. You'll be surprised, it's not going to cost you that much more to change the deductibles.
2007-10-18 02:59:21 · answer #1 · answered by SS 3 · 0⤊ 0⤋
It's the amount out of your pocket before the insurance kicks in.
If you bump a telephone pole (a collision), and have $900 in damages to your car, it's UNDER your deductible, so the insurance doesn't pay at all. If you have $1100 of damages, the insurance pays $100, you pay the deductible amount.
2007-10-17 10:20:10 · answer #2 · answered by Anonymous 7 · 1⤊ 0⤋
A ded is the money you have to pay out of pocket .Lets say the crash cost $2000to fix ded is $500 ins company pays $1500 you pay the rest.collision isto get your car fixed you have to pay $1000 of the bill and ins. pays the rest
2007-10-17 10:03:14 · answer #3 · answered by Anonymous · 0⤊ 0⤋
The deductible is what you have to pay. If you hit me and do $5,000 worth of damage, you pay $1,000 and GEICO pays the other $4,000. If you hit a deer, or a tree falls on your car or something, and you get $2,000 worth of damage, you pay $500 and GEICO pays $1,500.
2007-10-17 16:07:52 · answer #4 · answered by Josh 6 · 0⤊ 0⤋
This means that if you have an accident, you have to pay out $1000 towards repairs and/or $500 towards any damage - like if you hit someone else's car or fence. GEICO picks up the rest of the tab after that.
2007-10-17 11:17:42 · answer #5 · answered by zippythejessi 7 · 1⤊ 2⤋
My local church, and as far as I know my national church, doesn't lobby, but I think the churches that do try to influence legislation should be taxed. I think since the Sierra Club is concerned with the environment it's not a politically viable organization to protect.
2016-05-23 04:57:01 · answer #6 · answered by iva 3 · 0⤊ 0⤋