Auto Insurance Coverage With Deductibles And The Cost Of The Deductibles In The US


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Choose The Right Add-on Covers To Boost Your Car Insurance Policy

Just as there are different types of car insurance coverage, there are varying deductibles based on those different types of coverage. It’s essential to understand how much the car insurance deductible is for each type, so you’ll know what you’re expected to pay in the event of a claim.

  • Liability: This coverage pays the expenses of others who are injured in an accident where you are at fault. Liability car insurance coverage does not have a deductible.
  • Comprehensive: This coverage pays your expenses if your car is damaged by something other than a collision with another vehicle or object. This could include repairing damage from hail, hitting a deer or replacing a cracked windshield. It also will pay to cover the cost of replacing stolen items. The deductible for this coverage generally is less than the deductible for a car accident.
  • Collision: This coverage pays for repairs to your vehicle when you are at fault. This could be when your car is damaged in an accident with another vehicle or an object such as a tree or wall. This deductible is usually the highest deductible you will have with your car insurance policy. If your car is hit by another vehicle shown to be at fault and the owner is adequately insured, his insurance will pay for the damage to your vehicle. In that case, you would not pay a collision deductible.
  • Personal Injury Protection (PIP) and Uninsured Motorist: Personal injury protection coverage pays the medical expenses for the driver and all passengers in your car. Uninsured motorist coverage pays your expenses when you are in a car accident with a driver who is at fault but does not have insurance or is insufficiently insured to cover your costs. Not all car insurance policies include deductibles for this type of coverage.


What Is the Average Deductible Cost?

Because consumers choose varying types of car insurance coverage with different monetary limits, deductibles can vary significantly from one driver to the next. For most drivers, typical deductible amounts are $250, $500 and $1,000. According to MoneyGeek’s data, the average car insurance deductible amount is approximately $500.

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