Automobile Insurance Information
Insurance Deductibles Explained
Your deductible is the amount of money you pay out-of-pocket before
your insurance policy kicks in. By requesting higher deductibles,
you can lower your costs substantially. For example, increasing
your deductible from $200 to $500 could reduce your collision and
comprehensive coverage premium by 15 to 30 percent. Going to a $1,000
deductible can save you 40 percent or more. However, keep in mind
that you’ll need to have the amount of the deductible on hand
should something happen to your car.
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