Car insurance deductible is basically the money that you pay in order to repair your car in case you have had an accident and made a claim. This is the money that you yourself are supposed to pay. It is the insurer that pays for the damages sustained by the car in the accident. You can look for month to month car insurance plans on the internet as well. Now you may be wondering how a deductible works. The thing is that like it happens in health insurance there is no yearly limit that you need to meet when it comes to deductible in car insurance.
Instead of that you would have to pay this deductible with most of the claims that you make. It does not matter how many deductibles you have throughout the lifetime of your policy. Your insurer is supposed to pay for the damages in excess of the deductible. You can always look for monthly auto insurance. If you were to add the total value of your car your insurer will make you a payment. This payment would be for the present value of your car but the deductibles would not be included in the same.
Two of the commonest types of policies that include deductibles are collision and comprehensive policies. You might also come across such conditions in personal injury protection as well as policies that insure you against damages caused by uninsured and under insured motorists. These facilities are however available in a few states of the United States of America (USA). The deductibles are the same no matter what kind of coverage it is. This is applicable for auto insurance month to month as well. Now you may be wondering when is it that you need to pay your deductible.
Your deductibles are only applicable for the damages that have been caused to your car rather than the car owned by someone else. It is only when you pay cheap monthly auto insurance do they pay as well. There are a few situations where you do not need to pay the deductibles.