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How Car Insurance Deductible Works
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Sep 27, 2021 · How do car insurance deductibles work? Unlike health insurance, there are no annual deductibles to meet when it comes to auto insurance. You're responsible for your policy's stated deductible every time you file a claim. After you pay the car deductible amount, your insurer will cover the remaining cost to repair or replace your vehicle.
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Jul 30, 2021 · When you buy auto insurance, if you maintain coverage that has a deductible, you must select your deductible(s) when you purchase the policy. Deductibles typically range from $100 to $2,500.
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Jan 05, 2022 · A car insurance deductible is the amount of money you’ll pay out of pocket for an accident before your insurance company pays the rest. For example, if you file a claim for $1,500 and you have a $500 deductible, you will have to pay the $500 deductible before your insurer will cover the remaining $1,000 balance. Key Things to Know About Car Insurance …
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Aug 30, 2021 · By LaKenya Hill. A car insurance deductible is an out-of-pocket fee that you are responsible for when you get into an accident. You’ll need to pay your deductible before insurance will start paying for any necessary car repairs. In the event that you need to file an insurance claim, you will be required to pay a deductible.