What Is a Car Insurance Deductible?
A car insurance deductible is the amount of money you pay out-of-pocket before the insurance company covers the remainder if you’re involved in a covered loss. For example, if you have a covered loss of $2,000 and your policy carries a $500 deductible, you’ll pay the first $500 and the company will pay the remaining $1,500. As a rule of thumb, it’s always a good idea to choose a deductible that you can readily cover when you are faced with an unexpected loss.
If you have a low car insurance deductible, then you will have to pay more for your car insurance upfront. However, in the event of an accident or damages to your car, you will pay less towards your repair bill.
If you have a high car insurance deductible, then you will pay less upfront for your car insurance. However, if you are in an accident, you will have to pay more towards your repair bill.
Good2Go Auto Insurance® has a variety of payment plans to fit your car insurance needs. You can get an online car insurance quote from Good2Go Auto Insurance in minutes or call us directly at 855-MINIMO1 (855-646-4661) to see how much money you can save on your coverage.¹
¹Quote times on partner sites may vary. Prices vary based upon the state where you reside, the minimum limits you purchase, and other underwriting factors.
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