How Much Will I Have To Pay For Repairs?

The whole point of paying for auto insurance is so that you don’t have to shell out tons of cash if you get into a fender bender, right? So why is the shop telling you that you’re going to have to pay up before they fix your vehicle?

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What Is a Deductible?

An auto insurance deductible is the amount that you pay out of pocket for damages to your vehicle before your auto insurance company covers any accident-related expenses. Different auto insurance companies offer different deductibles, which customers select when they’re signing up for an auto insurance policy. Depending on the insurer, deductibles may be as low as $0 or as high as $2,500 or more. A $500 deductible seems to be a very average deductible many people select.

Understanding Your Auto Insurance Deductible

It’s important to note that deductibles are charged on a per-claim basis. If your vehicle is vandalized and then, on your way to the body shop, you are in a collision, those would be filed as two separate claims and would, therefore, have two separate deductibles.

Typically, deductibles are only applicable to collision coverage and comprehensive coverage. Collision coverage pays out if you’re responsible for a collision, comprehensive coverage pays to repair damage from fallen tree limbs, vandalism, fire, theft, and other covered losses that are not accident related. Liability coverage, which pays for bodily injury damages that you may cause if you are found responsible for a collision, generally does not have a deductible.​

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Choose Your Deductible Wisely

When signing up for your auto insurance policy, you selected a deductible. This is the amount of money that you pay towards your repair costs in the event of an accident. In other words, say that your car sustained $3,000 of damage and you have a $500 deductible. You’ll pay that $500, and your insurance will cover the rest.

The reason for the deductible is for you to have some skin in the game, to reduce overall, the number of total claims, and for the insurance company to “cost-share” some of their losses.

Generally speaking, the higher your deductible, the lower your premium. If you have a $1,000 deductible, you’re less likely to file an insurance claim, making you less risky to insure. That high deductible/low premium comes with a price though; namely, the price of your deductible. So, if you choose a $2,500 deductible because you like the low monthly premium, and you get into an accident that requires $2,500 in repairs, you’ll pay for every dime of it out of your own pocket.

 

Does Towing and Roadside Assistance Impact Insurance Premium?

Does Towing and Roadside Assistance Impact Insurance Premium?

Towing and roadside assistance is an auto insurance policy add-on that provides coverage if you get stranded or your car breaks down. This auto insurance coverage helps you handle costs like locksmith services, towing, battery service, gas delivery, and more.

Does Towing and Roadside Assistance Impact Insurance Premium?

Automobile Rental Insurance When Renting A Car

Most drivers who have an auto insurance policy with collision and comprehensive coverage, decent health insurance, and homeowners or renters’ insurance can save their money by foregoing additional rental coverage.

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Auto Insurance Quotes

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Choosing the Right Auto Insurance Deductible

When your auto insurance agent is helping you build your auto insurance policy, it’s often tempting to focus on the monthly premium and skimp on coverage to keep that rate as low as possible. However, this approach can backfire when you actually need to file a claim.

Car accidents can happen in the blink of an eye, and whatever your deductible is, you should be able to pay out that amount at any given time. Sure, a $2,500 deductible may result in a lower monthly payment, but if you couldn’t pay out that $2,500 for an unexpected repair tomorrow, then your collision or comprehensive coverage may be virtually useless to you.

To keep your rate low, choose the highest deductible that you could comfortably afford. Obviously, coverage limits vary widely, and there is no one-size-fits-all approach for figuring out how much coverage you actually need. To determine whether you should increase or decrease your collision and comprehensive deductible, consider factors like:

  • What type of vehicle you have and how old it is
  • If you had an accident, could you afford the deductible at anytime
  • How high of a premium can you afford to pay if your car was totaled
  • Do you live in a densely populated area, increasing your risk of an accident
  • How many miles per year do you drive
  • What other drivers are in your household

Setting a lower deductible may cost you more upfront each month, but in the event of an accident, it can be a relief. On the other hand, if your vehicle isn’t worth much more than the cost of your deductible, then you may not want to pay for collision and comprehensive coverage for that vehicle.

 

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At Nevada Insurance Enrollment We Can Help

Your auto insurance agent can help you review your policy and determine if your current collision and comprehensive deductible is right for you. Some drivers choose high deductibles in exchange for a more affordable monthly premium, while other drivers prefer a lower deductible with a higher monthly premium.

Our agents can help you review your insurance needs, claims history, and budget, to help you find the right balance between affordability and quality coverage.

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Auto Insurance For Unique, Exotic, and High Performance Cars

If you own a unique, sports, or exotic car, your driving habits are probably considerably different than most drivers. It makes sense, therefore, that your auto insurance coverage should be different as well. Your auto insurance company uses a vehicle’s make, model, horsepower, size, weight and number of cylinders to classify it as a sports or exotic car.

Anthem Blue Cross and Blue Shield Coming Back To Nevada

Anthem Blue Cross and Blue Shield offered health insurance plans in Nevada years ago, but they discontinued their ACA-compliant (Obamacare) individual plans for a few years. In 2020, Anthem is offering health insurance plans statewide, giving Nevadans in all counties health insurance options we did not have in 2019.

What is Umbrella Insurance?

Umbrella insurance is a special type of insurance coverage that protects you from lawsuits and claims that go beyond the limits or scope of your other liability insurance. It protects your assets and your financial outlook by extending the liability coverage on your homeowners, renters, auto or boat insurance when your limits are exhausted.

Does Towing and Roadside Assistance Impact Insurance Premium?

Auto Insurance For Unique, Exotic, and High Performance Cars

If you own a unique, sports, or exotic car, your driving habits are probably considerably different than most drivers. It makes sense, therefore, that your auto insurance coverage should be different as well. Your auto insurance company uses a vehicle’s make, model, horsepower, size, weight and number of cylinders to classify it as a sports or exotic car.

Does Towing and Roadside Assistance Impact Insurance Premium?

Anthem Blue Cross and Blue Shield Coming Back To Nevada

Anthem Blue Cross and Blue Shield offered health insurance plans in Nevada years ago, but they discontinued their ACA-compliant (Obamacare) individual plans for a few years. In 2020, Anthem is offering health insurance plans statewide, giving Nevadans in all counties health insurance options we did not have in 2019.

Does Towing and Roadside Assistance Impact Insurance Premium?

What is Umbrella Insurance?

Umbrella insurance is a special type of insurance coverage that protects you from lawsuits and claims that go beyond the limits or scope of your other liability insurance. It protects your assets and your financial outlook by extending the liability coverage on your homeowners, renters, auto or boat insurance when your limits are exhausted.