How Do I Evaluate Multiple Zero Deductible Car Or Auto Insurance Quotes?

By Sharon Gibson Posted in Car Insurance News



Deductibles

Whenever you file a claim with your auto insurance company before the insurer pays out any money you are responsible for covering what is known as a deductible. Say for example that you are involved in a collision and the cost to repair your car is going to be $1,000. If your insurance policy has a $250 deductible, then you pay the first $250 out of pocket and the insurance company will cover the remaining $750. Every time that you make a claim with your car insurance company you are required to meet the deductible.

Picking an auto insurance deductible that you are comfortable paying if you need to file a claim is vital when choosing an insurance policy. The cost of a deductible can range from as little a zero to over $1,000 dollars.

Zero Deductible Auto Insurance May Not Be Best For Everyone

For many people an auto insurance policy with a zero deductible is very enticing. For instance drivers who live in large cities or are likely to file multiple claims with their insurance company should look for a policy with a low deductible. Also, students and retired individuals who do not have extra cash on hand to cover a deductible payment are excellent candidates for zero or low deductibles.

Although zero deductible auto insurance policies are ideal for many individuals, they are not very common. From a business standpoint these types of plans are financially risky. Further, companies that do have zero deductible policies usually have very high requirements you much meet in order to qualify.

There Are Issues To Consider When Comparing Policies With Zero Deductible

If you are shopping for zero deductible insurance plans, you must check multiple insurance companies to ensure that you get the best price. Having a zero deductible policy means that your monthly premium will be much higher then a typical premium. However, the cost of your payment can vary between different insurers. It is also important to check what types of claims qualify for zero deductible. For instance a stolen car claim may have no deductible but a collision may not.

Related posts:

  1. How Do I Calculate The Best Car Insurance Deductible For Me?
  2. What Is A Car Insurance Deductible?
  3. Simple Easy Steps To Comparing Cheap Monthly Car Insurance Quotes
  4. Short Study Guide To Getting Direct General Auto Insurance Quotes
  5. Short Study Guide To Getting Very Cheap Car Insurance Quotes






Leave a Reply