Valencia Insurance Group
Contact Us:  (772) 344-8899
  • Home
  • Quotes
    • Auto Quote
    • Homeowner Quote
    • Condo Quote
    • Renters Quote
    • Boatowner Quote
    • Motorcycle Quote
    • RV Insurance Quote
    • Flood Quote
    • Umbrella Quote
    • Business Quote
    • Workers Compensation Quote
  • Service
    • Report a Claim
    • Make a Payment
    • Update Contact Info
    • Proof of Insurance
    • Online Documents
    • Free Consultation
  • Products
    • Auto Insurance
    • Home Insurance
    • Condo Insurance
    • Renters Insurance
    • Boat Insurance
    • Motorcycle Insurance
    • RV Insurance
    • Flood Insurance
    • Umbrella Insurance
    • Business Insurance
    • Workers Compensation
  • Blog
  • About
    • Staff Directory
    • Agency Photo Gallery
    • Insurance Carriers
    • Client Testimonials
    • Accessibility Agreement
    • Local Links
    • Refer a Friend
    • News
    • Reviews
    • Videos
  • Contact

Car Insurance 101: What is a Deductible?

12/29/2017

0 Comments

 
Picture
Car insurance policies all have something called a deductible on it. If you are new to insurance policies, it can be a bit confusing. Deductibles play an important role in how your policy works and you definitely should know what it’s about. Here’s everything you need to know about deductibles.
What is it?

First of all, you should know that a deductible is the out-of-pocket money that you will pay before the car insurance kicks in. When you reach the maximum amount of deductible stated on your policy, your insurance company will automatically take over.

The amount of your deductible vary depending on the coverage. There are coverages on your policy like the Personal Injury Protection that requires zero deductibles. You can choose to have a low deductible if you’re low on cash but it will cause your monthly rates to shoot up.

How It Works

When your car insurance coverages such as physical damage policy are written, you have several amounts of deductible options to choose from. Depending on your insurance policy, the amount can range from 0 to $3,000. Most car owners choose, $500 and $1,000 as their deductible amounts to be safe.

What will happen in the event of an accident is that whatever needs to get paid will be shouldered by the car owner first. The amount of money that you have to pay for will depend on the amount of deductible that you have on your policy. For example, if the repair shop charges you $800 dollars for parts and labor and your deductible is at $300, your insurance company will only pay $500.

On the other hand, if your vehicle was totally wrecked, the amount of your deductible will be deducted from the current value of your car. If you have a $5,000 worth of car and your deductible is at $1,000, your insurance company will give you $4,000 for your loss.

How Much Should It Be?

The amount of deductible is totally controlled by the car owner because they are the ones that decide on it. As a responsible person, you have to take a look at your financial status and how much cash you usually have in the bank.

The amount of deductible that you need to have on your policy should be the amount that you are comfortable in spending. Do not make the mistake of choosing a high deductible amount in exchange of a lower monthly premium. You don’t want to be in a situation where you have to pay for the deductible and you are short of cash.

It’s always good to talk to a trusted insurance agent to be able to understand everything about your car insurance policy—including deductibles. At Valencia Insurance, we work hard to make sure that our clients are well-protected with policies that they can afford. To learn more about how we can help you, please contact our agency at (772) 344-8899 or Click Here to request a free quote.

​
0 Comments



Leave a Reply.

    Contact Us

    (772) 344-8899
    3412 NE Sugarhill Ave

    Jensen Beach, FL 34957
    Click Here to Email Us

    Archives

    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    May 2016

    Categories

    All
    Auto Insurance
    BOP Insurance
    Business Insurance
    Commercial
    Commercial Building
    Commercial Building Tips
    Energy
    FAQs
    Financial
    Health Insurance
    Home Insurance
    Insurance
    Local
    Motorcycle Insurance
    Power Efficiency
    Safety
    Travel Insurance

    RSS Feed

Navigation

Homepage
Insurance Quotes
Policy Service
Insurance Products
Contact Us
Agent Login

Social Media

Facebook
LinkedIn
Twitter
YouTube
Pinterest

Contact Us

Valencia Insurance Group
3412 NE Sugarhill Ave
Jensen Beach, FL 34957
(772) 344-8899
Click Here to Email Us
Review Us

Location

Website by InsuranceSplash