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Thread: Car Insurance ?

  1. #1

    Default Car Insurance ?

    Hi,

    I am newbie in this forum please give me some comments for my question.

    What is a Car Insurance Deductible?



  2. #2

  3. #3

    Default

    Thanks for sharing your suggestion here..



  4. #4
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    A deductible in auto insurance works the same way as a deductible in health insurance, or any other type of insurance. It is an upfront payment that must be made by the driver before their auto insurance policy will step in and pay for damages.One of the most important things for a policyholder to understand about a deductible on a car insurance policy is that it does effect premiums.When there is damage or loss to an insured party's vehicle, the car insurance deductible comes into play.

  5. #5

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    When it comes to car insurance, itís important to understand what your policy covers and what it does not. Most car insurance companies allow you to choose options which best suit your needs. The deductible is one of the most important options you will select, as it has a direct affect on how much your insurance premium will cost.

    A car insurance deductible is the amount of money you agree to pay out of your pocket. This money must be paid before your insurance carrier will pay your claim. Letís say you are involved in an accident that causes $5,000 worth of damage to your car. Now, letís say your chosen insurance deductible is $500. You will pay $500 toward the damage repair expense and your insurance company will pay the remaining $4500.

    Car insurance deductibles apply to comprehensive and collision coverage. Comprehensive covers damage caused to your vehicle by anything other than another vehicle. This might include damage caused to your car through hitting a deer. It will also cover damage causes by vandalism or acts of nature, such as hail or wind damage. Comprehensive insurance also covers the theft of your car.

    Collision covers damage caused to your vehicle due to a collision with another car while on the road. Both of these types of coverage carry their own deductible.

    Car insurance deductibles for comprehensive and collision coverage typically range between $250 and $1500. The higher deductible amount you chose, the lower your insurance premiums will be. Choosing a deductible of $1500 could potentially save you between 10 and 20 percent off your insurance premiums.

    However, itís important to choose a deductible that you can afford. Itís also important for you to deposit the deductible amount you have chosen into an interest-bearing savings account so that you can easily access it should you ever need it.

    Thereís nothing worse than being involved in an accident, then not being able to afford to get your car repaired because you donít have the deductible. Many Americans simply do not have $500 to $1500 lying around and oftentimes find it difficult to come up with their deductible when they need it.

    If you are unable to deposit the full amount of your deductible, at minimum put some money into an account each week. This could be as little as $10 if thatís all you can afford. Hopefully, you will never need the insurance deductible. However, knowing it is tucked away in the bank can provide you with considerable peace of mind.

    Most car insurance companies provide deductible calculators at their website. Through a series of questions, they can help you determine which deductible is best suited for your budget. If your car insurance carrier does not offer this tool, check competitorís websites to see if they offer it.

    Even if you do not change insurance carriers, there is no reason you cannot use all the tools available to help you make an informed decision.

    Before you make your final decision, take time to compare the different plans available. Do the math and determine how much each policy will cost you, along with listing the pros and cons of each scenario.

    If you still find yourself confused or in doubt, speak directly to an insurance agent. Most car insurance websites now allow you to speak directly to an agent via instant messaging chat. Others provide a toll-free number so you can speak to a representative without incurring long distance charges.
    Last edited by insuredô; 08-04-2009 at 01:11 AM.

  6. #6
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    car8788 have you found out what Car Insurance Deductibles are yet

  7. #7
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    A car insurance deductible is the amount an insured party pays to repair or replace a damaged vehicle before the insurance company begins covering the loss. The car insurance deductible is specified ahead of time in the auto insurance policy. The insured party determines the deductible's size.

  8. #8
    Banned Level 1
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    Quote Originally Posted by insuredô View Post
    When it comes to car insurance, itís important to understand what your policy covers and what it does not. Most car insurance companies allow you to choose options which best suit your needs. The deductible is one of the most important options you will select, as it has a direct affect on how much your insurance premium will cost.

    A car insurance deductible is the amount of money you agree to pay out of your pocket. This money must be paid before your insurance carrier will pay your claim. Letís say you are involved in an accident that causes $5,000 worth of damage to your car. Now, letís say your chosen insurance deductible is $500. You will pay $500 toward the damage repair expense and your insurance company will pay the remaining $4500.

    Car insurance deductibles apply to comprehensive and collision coverage. Comprehensive covers damage caused to your vehicle by anything other than another vehicle. This might include damage caused to your car through hitting a deer. It will also cover damage causes by vandalism or acts of nature, such as hail or wind damage. Comprehensive insurance also covers the theft of your car.

    Collision covers damage caused to your vehicle due to a collision with another car while on the road. Both of these types of coverage carry their own deductible.

    Car insurance deductibles for comprehensive and collision coverage typically range between $250 and $1500. The higher deductible amount you chose, the lower your insurance premiums will be. Choosing a deductible of $1500 could potentially save you between 10 and 20 percent off your insurance premiums.

    However, itís important to choose a deductible that you can afford. Itís also important for you to deposit the deductible amount you have chosen into an interest-bearing savings account so that you can easily access it should you ever need it.

    Thereís nothing worse than being involved in an accident, then not being able to afford to get your car repaired because you donít have the deductible. Many Americans simply do not have $500 to $1500 lying around and oftentimes find it difficult to come up with their deductible when they need it.

    If you are unable to deposit the full amount of your deductible, at minimum put some money into an account each week. This could be as little as $10 if thatís all you can afford. Hopefully, you will never need the insurance deductible. However, knowing it is tucked away in the bank can provide you with considerable peace of mind.

    Most car insurance companies provide deductible calculators at their website. Through a series of questions, they can help you determine which deductible is best suited for your budget. If your car insurance carrier does not offer this tool, check competitorís websites to see if they offer it.

    Even if you do not change insurance carriers, there is no reason you cannot use all the tools available to help you make an informed decision.

    Before you make your final decision, take time to compare the different plans available. Do the math and determine how much each policy will cost you, along with listing the pros and cons of each scenario.

    If you still find yourself confused or in doubt, speak directly to an insurance agent. Most car insurance websites now allow you to speak directly to an agent via instant messaging chat. Others provide a toll-free number so you can speak to a representative without incurring long distance charges.
    Hi there, I just have a few questions. How will insurance help in case of auto theft? How can I go about getting insurance to ensure I will be covered in case of auto theft?

  9. #9
    Senior Member Level 1
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    The common meaning you can find on en.wikipedia.org/wiki/Deductible

  10. #10

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    Auto insurance coverage is packaged into different coverage types. It is usually easiest to determine what you are required to purchase. Then, you determine what you have that needs to be protected. You purchase insurance to protect yourself (your family) in the event that you suffer a loss to your person or property and you purchase insurance to protect yourself (your family) from losses suffered by others. Below is a breakdown of each car insurance coverage type to help you understand more about what each type of coverage protects. Next to each type is a term that is usually associated with that coverage type (i.e. BI and PD).
    http://learningcenters.us/

    Life, Health and Auto INSURANCE
    http://insureme.us/

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