My $500 deductable?

Question

I have a $500 deductable, its going to cost $300 to fix, why would I still have to pay $500? that seems alittle crooked.

Answer 1

The $500 pertains to the amount you would pay before the insurance company starts paying the bill. Take the car to the repair facility and they will bill you the $300. It wont hurt your insurance if you go through them since they wont be paying any part of the claim. You may get a better price from the repair facility if they are quoting for your insurance company.

Answer 2

If your deductible is 500 dollars and the repair is 300 dollars you don't need to file and insurance claim because you will hurt your record and insurance will pay nothing.  You should just pay this claim out of pocket.

Answer 3

Nah - just don't file a claim with your insurance company. It's still going to cost you $300 out of pocket. Might as well not give them any reason to increase your rates.

Answer 4

That's why your agent gives you a choice of what level deductible you want. I carry a $100 deductible on my comprehensive coverage. You get what you pay for. If someone else caused your loss, they should cover your deductible.

Buy and read a copy of Insurance for Dummies so you will better understand how insurance works.

Answer 5

You should pay the person that is going to fix your problem the $300.00 and not use your insurance. Only if the problem costs more than $500.00 to fix, should you use your insurance.

Answer 6

You don't, you only pay the $300, out of pocket, to the guy who fixes it.