Choosing the right deductible for your auto insurance can be a difficult process. Do you want a deductible that makes an accident more affordable or one that decreases your premium payments?
The 1st step is ensuring you know what a deductible is.
What is a deductible?
Your deductible is the portion of the claim you must pay before your insurance policy kicks in to pay for the rest.
The typical vehicle damage sustained in even a minor collision will usually cost more than this amount. But some won't. This means if you make a claim and the cost is less than your deductible, you could end up paying for the entire repair on your own.
Waive your deductible
Under certain circumstances, you may not have to pay your deductible when you make a claim when you have an auto policy. This is called waiving your deductible.
Fire or lightning
If you have comprehensive coverage, your deductible will be waived for damage to the entire vehicle cause by fire or lightning.