What Is An Auto Insurance Deductible?
A deductible is a word auto insurance companies use to describe the amount you would have to pay yourself (out of pocket) for auto repairs if you were in an accident. A lower deductible usually means you pay a little more for your auto insurance.
Example Of A Deductible
If you have a $500 deductible and your repair costs are $250 for a paint scratch, since the repair does not cost more than $500, then you will have to pay that $250 repair cost yourself.
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