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Car Insurance Quotes and Deductibles Finance Articles | October 24 John Gibson Olympics Jersey , 2011
Perhaps you've taken a look at several car insurance quotes in the past and not really understood why there are differences in price. The simplest explanation for this dilemma is the fact that there a...

Perhaps you've taken a look at several car insurance quotes in the past and not really understood why there are differences in price. The simplest explanation for this dilemma is the fact that there are a large number of circumstances and individual factors that go into determining how much you'll pay. Two of those factors include the total amount of coverage you're looking for and the amount of your deductible. In this article we will speak specifically of the deductible.

Simply defined, the deductible is the amount of cash you will pay upfront on a claim, before your insurance company gets billed for the remainder. For example, if you have a $500 deductible Mark Scheifele North America Jersey , you will be responsible for that amount of the total bill. If the repair shop charges $4,000 for all the repairs you will be responsible for paying the first $500 and your insurance company will cover the remaining $3,500.

Applying Deductibles

How a deductible is applied, and when it gets paid Ryan Nugent-Hopkins North America Jersey , is determined by the terms of your policy. However, the most common way of applying deductibles is for you to collect estimates from the various companies you'll be using during the repairreplacement process and send them off to the insurance company. The insurance company would then evaluate those estimates and write you a check for the total amount, less your deductible.

In some cases insurance companies have worked out special deals with individual repair shops. In such cases the repair shop would pay for your towing service and your replacement car rental, and then include the price of those two things in the total bill. They would send an estimate for the entire amount directly to the insurance company who would turn around and send them a check in return. In this type of scenario you are kept completely out of loop.

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