Insurance Deductibles so How Do



presented by get insured quick calm


today we're going to be talking about


insurance deductibles so how do


insurance deductibles work well if


you've ever filed an insurance claim youinsurance deductibles work well if


probably notice that your check did not


  • include the entire amount of the damages


  • that were calculated this is because


  • almost all insurance policies be an auto


  • insurance homeowner's health care


  • business or any type of insurance really


  • have a coinsurance provision like the


name suggests coinsurance is the amount


you agree to Co insure the property


business or person against a loss it's


also called the deductible because it's


the amount the insurance company will


deduct from the final settlement to


cover your coinsurance


now sometimes deductibles are flexible


and allow you to choose the amount auto


insurance is a good example of this


usually you decide if you want a two


hundred and fifty five hundred thousand


or fifteen hundred dollar deductible


sometimes even more or less in the


premium or the amount that you pay for


the policy will go up on the lower


deductibles and down on the higher ones


so if you have a fender bender and the


amount of damage to your car is two


thousand dollars and you have a one


thousand dollar deductible your


  • insurance company will pay you $1,000


  • for the damages some deductibles are


  • calculated as a percentage of the value


  • of the covered property for example


  • homeowners insurance usually has a one


percent deductible on the value of the


home so a


250 thousand dollar home will


have a twenty five hundred dollar


deductible because one goes into to


carry the four remainder five all right


you know what I can't math you're just


gonna have to take my word on that one


so in effect when you buy insurance


you're technically becoming a partner


with the insurance company from a


certain point of view the whole point of


insurance so I didn't have to pay


you'd be wrong then deductibles exist to


make sure that you as my grandpa used to


say have a dog in the hunt or $500 auto


insurance deductible keeps you from


filing a claim every time your car gets


a little ding in the parking lot and


your $50 healthcare copay keeps you from


going to the doctor every time you stub


your toe in other words it's low enough


that you can afford it for major stuff


but high enough that it doesn't make


sense to use it for minor things now the


usual advice is that you should set


aside the amount of your deductible in a


separate account to have should you ever


need it but are you going to do that of


course you're not but you can't say we


didn't try to tell you and get insured


quick we'll work with you to find the


Table for contents

what does liability insurance cover




what The insurance is covering




where to buy renq crypto




best policy and deductibles to fit your


unique needs to make sure that when you


need it you'll be covered that's why it


get insured quick we always say when it


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