Reading 1
How it works
If you have a $500 deductible and a covered repair costs $2,000, the insurer pays the rest after your $500. If the repair costs $400, there is nothing left to claim.
Reading 2
The trade
Raising the deductible often reduces the premium. Lowering it often raises it. That is a general pattern, not a promise about any policy.
Reading 3
Where it appears
Your declarations page lists the deductible beside collision and comprehensive. Liability does not use one.
Reading 4
A gut check
- Could I pay my deductible this week?
- Would I rather pay more now or more later?
- Do I have small damage that I would fix myself?
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