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In an insurance policy, the deductible (in British English, the excess) is the amount paid out of pocket by the policy holder before an insurance provider will pay any expenses. [1] In general usage, the term deductible may be used to describe one of several types of clauses that are used by insurance companies as a threshold for policy payments.
[car's value deductible) > [annual premium cost ️10] 🚗 Say your car is paid off and worth $8,000. If you have a $500 deductible and your comprehensive and collision costs $700 annually, full ...
What Is a Car Insurance Deductible? Your deductible is your share of your vehicle’s repair costs after an accident. For example: If you must file a claim, and your deductible is $500 — and the ...
Learn the difference between common car insurance coverage ... You carry comprehensive insurance with a $500 deductible, so your insurance company would pay $6,500 toward the repairs and you would ...
In many instances, this insurance will also pay the deductible on the primary insurance policy. These policies are often offered at auto dealerships as a comparatively low cost add-on to the car loan that provides coverage for the duration of the loan. GAP Insurance does not always pay off the full loan value however.
Vehicle insurance (also known as car insurance, motor insurance, or auto insurance) is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a ...
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