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A car insurance deductible is the amount of money you have to pay out of pocket before your insurance policy will cover repairs or medical expenses.
High Deductible Car Insurance Plans
By Daniel Robinson Author Daniel is a staff writer on the Guides team and has written for several automotive news websites and marketing companies in the US, UK and Australia, specializing in car finance and car care. Daniel is a leading authority on car insurance, loans, warranty options, auto service and more.
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Editor: Rashon Michner, Editor: Rashon Michner Managing Editor Rashon Michner is a Guides team editor with more than 10 years of experience covering personal finance and insurance topics.
If your car is damaged in an accident and needs repairs, you’ll have to pay a certain amount before your coverage will take effect. The amount you pay is called your car insurance deductible. Our team of tour guides will explain how car insurance discounts work, when to pay, and how to choose coverage when purchasing a policy.
We’ve researched the best car insurance companies in the country to help you find the one that suits your needs. We recommend comparing car insurance quotes from several providers before purchasing a policy.
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Average Car Insurance Deductible: Everything You Need To Know
The Guide team is committed to providing reliable information to help you make the best decisions about your vehicle insurance. Because our customers rely on us to provide objective and accurate information, we created a comprehensive rating system to rank the best car insurance companies. We collected data from dozens of auto insurance companies to rate companies based on a variety of ranking factors. The end result, after 800 hours of research, is an overall rating for each provider, with the highest-scoring insurance company at the top of the list.
A car insurance deductible is the amount of money you have to pay out of pocket before your insurance company will pay for car repairs or medical expenses in a car accident. You pay your deductible directly to the repair shop that repairs your car or the medical facility that treats you.
For example, let’s say you have a $500 deductible and you submit a claim for $2,500 in car repairs. You pay the mechanic $500, and then the insurance company pays the remaining $2,000 of the repair cost. If the cost of your repair is less than your deductible, you must pay the full cost yourself.
