## What is the best deductible amount for car insurance?

Typically, insurance agents recommend that your comprehensive deductible be **between $100 and $500**. Comprehensive claims tend to be filed for less damage than collisions, so having a lower deductible is often logical.

## Is a 500 or 1000 deductible better?

**A $1,000 deductible is better than a $500 deductible if you can afford the increased out-of-pocket cost in the event of an accident**, because a higher deductible means you'll pay lower premiums. Choosing an insurance deductible depends on the size of your emergency fund and how much you can afford for monthly premiums.

## What does it mean when you have a $1000 deductible?

If the loss is covered by your policy, your insurance will then kick in to cover the rest. For example, if your policy's deductible is $1,000 and you have a loss under your policy that costs $10,000, **you'll pay $1,000 and your insurer will take care of the remaining $9,000**.

## How much will you save if you take a $1000 deductible?

As an example, you can expect to save between 15% and 30% on your car's collision and comprehensive coverage by increasing your deductible from $200 to $500. 2 If you go up to $1,000, you could potentially save **40%**.

## What does it mean if I have $1000 deductible?

If the loss is covered by your policy, your insurance will then kick in to cover the rest. For example, if your policy's deductible is $1,000 and you have a loss under your policy that costs $10,000, **you'll pay $1,000 and your insurer will take care of the remaining $9,000**.

## Is 1000 a good deductible?

**A $1,000 deductible is better than a $500 deductible if you can afford the increased out-of-pocket cost in the event of an accident**, because a higher deductible means you'll pay lower premiums. Choosing an insurance deductible depends on the size of your emergency fund and how much you can afford for monthly premiums.

## How does a deductible work?

**The amount you pay for covered health care services before your insurance plan starts to pay**. With a $2,000 deductible, for example, you pay the first $2,000 of covered services yourself. A fixed amount ($20, for example) you pay for a covered health care service after you've paid your deductible.

## What does it mean 500 deductible?

After you pay the car deductible amount, **your insurer will cover the remaining cost to repair or replace your vehicle**. Example: You have a $500 deductible and $3,000 in damage from a covered accident. Your insurer will pay $2,500 to repair your car, and you'll be responsible for the remaining $500.

## Is 1000 a good deductible?

**A $1,000 deductible is better than a $500 deductible if you can afford the increased out-of-pocket cost in the event of an accident**, because a higher deductible means you'll pay lower premiums. Choosing an insurance deductible depends on the size of your emergency fund and how much you can afford for monthly premiums.

## What does it mean if I have $1000 deductible?

If the loss is covered by your policy, your insurance will then kick in to cover the rest. For example, if your policy's deductible is $1,000 and you have a loss under your policy that costs $10,000, **you'll pay $1,000 and your insurer will take care of the remaining $9,000**.

## What’s the best deductible amount?

Typically, insurance agents recommend that your comprehensive deductible be **between $100 and $500**. Comprehensive claims tend to be filed for less damage than collisions, so having a lower deductible is often logical.

## Is 500 a good deductible?

**Choosing a $500 deductible is good for people who are getting by and have at least some money in the bank** – either sitting in an emergency fund or saved up for something else. The benefit of choosing a higher deductible is that your insurance policy costs less.