My car was hit by a hit and run driver. It messed up the steering so I took it to the dealer in CA, where I live, to have it repaired. My deductible is $500. My insurance adjustor and the dealer cannot come to an agreement on the repair costs so I am being told that I have to pay at least $800.00 more so my current out of pocket is around $1300.00. Is this really my problem? Can my insurance company make me pay this extra amount? The total repair cost are around $5000.00 This a large insurance company based in CA.
Do you want to save money on your car insurance? Of course you do. Everyone does. There are literally thousands of books and articles currently in circulation about how to save money on your coverage, and almost all of them offer you the same advice-raise your deductibles. Raising your deductibles can help you save money on car insurance almost instantly, but that’s not all you need to know. You need to know exactly how high (and how low) you can honestly go.
First, let’s start with the question of how low you can go. Some car insurance companies offer their valued drivers (particularly those with an excellent driving record) the chance to enjoy their insurance coverage deductible free. Yes, that’s right. The elusive zero dollar deductible really is out there. All you have to do is talk to your insurance agent and see if your provider offers it. If they don’t, look around. Your car insurance company isn’t the only fish in the sea, and you never know when you’re going to get lucky.
The lowest you can go is nothing, but how high should you go? How high is too high? How high isn’t high enough? When you pay your deductible you’re opening up the door to spectacular car insurance rates, because you’re footing a bigger portion of the bill. When your car insurance company has to pay less, they’re going to charge you less (and vice versa).
Before you start jumping up and down and sending your deductibles skyrocketing (most deductibles max out at $1,000 a pop) take a second to think about it-very, very carefully. No, there’s no guarantee that you’re going to have to file insurance claims. The lucky few never do, from the day they get their learner’s permit until the day they hang up their car keys. These are the exception rather than the rule, however. Most people will be in an accident at least once in their lives, whether as a result of careless driving, black ice or kamikaze wildlife. (Have you SEEN what a deer will do to a car?)
You may be part of the exception rather than the rule, but it always pays to be prepared. The last thing you want to do is prepare for the best and find yourself faced with the worst. In other words, you don’t want to set your car insurance deductibles at $1,000 a pop and then find yourself without the money to pay it after an accident! Remember, you’re not going to have any advance warning when you have to file a car insurance claim, which means you never know when you’re going to need to pay out a deductible. Don’t set that deductible any higher than you can reasonably expect to go at a moment’s notice.
Tony Peck is the Director of Business Operations at QuoteScout.To learn more about your home or auto insurance, visit them on the web at http://www.QuoteScout.com.
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When shopping for car insurance, there are a few deciding factors when choosing a policy. There is the initial cost, type of coverage and the deductible amount. Car insurance deductibles can range anywhere form $250 to $1500 depending on the policy and insurance provider.
The deductible is the amount of money that is paid out of pocket by the policy holder in case of accident or damage. Car insurance deductibles are normally found with collision and comprehensive style policies. The lower the amount of the deductible, the higher the monthly premium is that needs to be paid to the insurance company.
While visiting the insurance providers websites and browsing their policies, each one should have different rates for different deductible amounts listed right there. Choosing a policy with a higher deductible amount may be financially easier at the outset of a policy. However, if the vehicle becomes involved in a major accident, the high deductible may be more than is readily available to the average individual.
Car insurance deductibles can however be tailor made to fit in many standard policies offered by most insurance companies. By selecting an affordable policy with a reasonable deductible, the vehicle and the owner can be well protected and a little less worried about the “what ifs” if an accident happens. The average comp and collision deductible that many providers offer is about $500 on most policies of this type.
By visiting the insurance company’s websites, the deductibles can be figured out by using a deductible calculator (most sites have one available as a tool). This lets the consumer know how much the monthly premium will be along with the amount of deductible should anything happen. This helps them in fitting the proper policy in to their budget.
By using the websites as a tool for shopping for vehicle insurance, an easy comparison can be made between many different providers. A short online search brings all major and minor car insurance providers directly to the consumer. Many of the websites not only provide their own rates, but the rates of others for a side by side look at just which policy is most affordable for the customer.
As with shopping for any type of insurance, car insurance can be a little confusing to the average person. Many websites offer a question and answer section to help alleviate this along with and email address and phone number for more direct contact. More that one website has an online chat feature that allows the consumer to speak directly to a live support person instantly and get many of their questions answered immediately instead of waiting on an email or being on hold on the phone.
The time to do the research is time well spent as it will save money in the long run and let the consumer know exactly what their policy covers and how much it will cost them if an accident should occur with their vehicle. The Internet is one of the greatest tools in assistance of locating the proper and most affordable policy for each individual. With all of the information only a few clicks away, this makes for a pain free insurance shopping experience.
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