what are car deductibles
A car insurance deductible is the amount of money you have to pay toward repairs before your insurance covers the rest.. For example, if youâre in an accident that causes $3,000 worth of damage to your car and your deductible is $500, you will only have to pay $500 toward the repair. The insurance company pays the remaining $2,500. For many people, increasing the amount of their deductible is also a great way to save money. Thatâs because when you choose a higher car insurance deductible amount,, it could lower the amount you pay on your insurance premium. However, itâs important to choose a deductible that you can afford. Imagine not being able to get your car fixed because you donât have money to cover the deductible.