Yes. If someone hits your vehicle and the insurance company pays for the damages, they will go after the person who wasfor the damages paid and after they collect all the money paid out they will reimburse you for the deductible that you paid when the vehicle was repaired. The damages were paid under your uninsured motorists coverage which has at least a $250 deductible for property damage so when all the damages are recovered from the person, that will include the deductible and you will get a check back for that amount.
Yes. In many cases your insurance company may waive your deductible if the third party's insurance company accepts liability.
If you were legally at fault, you are responsible to pay all damages to other vehicle. Even if you pay the other persons deductible, that insurance co. will come after you for total amount. The person that you gave the money to for their deductible will then have to give some of that back to insurance co., if they find out that deductible was given to him (her) by you.
The insurance company will pay you the worth of your car minus your deductible.
In this case you would use your Uninsured Motorist coverage if you have this coverage. Your UM coverage will pay for damage to your vehicle less your deductible. If later the person is found and their insurance or they personally pay for the damages then your insurance company will get reimbursed and you will also get back your deductible that you paid in you UM coverage.
I can't think of a time when the deductible is paid to the insurance company.......typcially would be paid to the repair facility, and is deducted from your settlement draft........i am assuming the following senerio: your vehicle was damaged and the other parties ins co had accepted liability, your vehicle is in the shop and you will need to pay your deductible when the repairs are complete? two thing generally happen here......some times the other carrier will go ahead and issue the deductible on your behalf then when the 'supporting documents' have arrived they will pay your insurance company back (subrogation).......or (and unfortunately mostly), your company and you (via your deductible) pay the claim, then ''at fault'' carrier pays your insurance company back including your deductible, your company then reimburses your deductible to you...another option if you haven't already got your vehicle under repair....is to allow (some times wait) for other carrier to pay entire claim......if you could give me more information perhaps i can help you more......
Not to your home no, only to a reliable shop in the area where your car was hit/damaged, usually approved by your insurance company.
If you have uninsured motorists coverage your insurance company will take the place of the other parties insurance coverage less a small deductible. They will then go after the other party to collect the amount of damages paid out plus your deductible. If and when it is all collected they will send you back your deductible. If your insurance company handles the claim for you and pays your damages you will have no further recourse as you sign over your legal rights to the insurance company under a subrigation agreement.
most time if the car was in an accident and is totaled you will have to by it back from your insurance company
Yes. eg: If you have pl/pd, the insurance won't pay for repairs for YOUR car if it is you fault, but they will pay the repairs for the other car There's the big problem of having only the required liability insurance. If you do not have comprehensive and collision, you may have to sue the at-fault driver to force his insurance carrier pay. If you have coverage of your own, you can file a claim with your agent and immediately collect the damages (less your deductible) and your company will sue his if necessary. If and when they win or receive a settlement, you will get your deductible back.
If you have collision coverage on your vehicle you can collect from your insurance company for the damages. You will not have to pay the deductible if you were determined by the insurance company to not be at fault for the accident. They then go after the other insurance company to get the money they paid you back. If you do not carry collision coverage then you need to file with other insurance company, they will then decide who was at fault for the accident if their party was at fault they then pay you for the damages to your vehicle.
You can pay for it yourself or file a claim with your insurance company and they will take care of it. Do realize that your premiums will go up. So do the math, if the damage is more than your deductable plus the difference in what you will pay if your insurance goes up (for 3 years worth or however long your company raises the rates after an accident), then it is worth it. You can either fix it or leave it damaged. If the damaged vehicle carries collision insurance (not just liability) you can probably have repairs made but you get to pay the deductible.
Your insurance owes you the value of the vehicle minus your deductible. If you owed the bank more than this, you are responsible for the excess.
Only if there were another vehicle involved. If for instance you back into a tree you wouldn't want to make a claim, unless the damage exceeded the deductible. Perhaps not even then.
I do know after period of time the deductible lowers down to zero. But if by chance accident occurs does it go completely back up or does it increase partially?
Personal interest is not tax deductible
Quite often, when the other carrier has accepted liability but you have had your damages taken care of by your own carrier, the at-fault carrier will agree to send you your deductible. Any of you can call the at-fault carrier and request this, though they'll need proof from your own carrier as to what the deductible is. If, however, there's a liability dispute between your two carriers, you'll have to wait until your carrier subrogates and/or arbitrates the other carrier. All this means is that your carrier will ask for their money back, including your deductible, and if the other carrier declines, your carrier will initiate arbitration. Your carrier may or may not win; if they do, they get their money back and can send you your deductible.
Absolutely. If someone hits you without insurance this coverage will pay to fix your vehicle with a small deductible. The company will then pursue the at fault party until all the losses are recovered and then send you back your deductible. Usually they have to collect payments for years to collect all the damages. If you don't have UMPD coverage you will have to do that yourself. UM is well worth the premium. As a matter of full disclosure, I own and operate a small Independent Insurance Agency and have for the part 22 years. Before that I worked as an agent for a direct writer insurance company.
No, I'm afraid it is not. Just like a hot tub is not deductible because someone has back aches. These items are all seen the same way by the IRS and tax law.
tell your insurance company and the police and your insurance company will pay everything except the deductible. If you have full coverage than your insurance is required to make good on the damage. It is up to your insurance company to try and get their money back from the uninsured driver of the other vehicle.
If you have collision coverage, file a claim with your insurance company. They will pay for your damages, minus your deductible, and then pursue the other vehicle's owner to get your money back (Also check your policy to see if you have Uninsured Motorist Property Damage). If you don't have either coverage, you would have to pursue the other vehicle's owner legally.
Yes, it's mandatory, a part of the Insurance Contract that you signed up for. They don't let you collect twice. If they collect from the person who hurt you, then you would get your deductible and co-pays back. F
When you file a claim against your own company you must pay the deductible. Your company may pay you back the deductible only in cases where they go after someone else who was responsible for the damage and your company manages to collect for that damage. Some (not all) companies may also waive the deductible if the insured made no claim in the past 1 or 2 years, for example.
If you damage someone else's property your insurance company is required to indemnify that person for the damage lost. In other words, they have to put them back to the same 'place' they were before the accident happened - not better than they were before the accident. So they would typically be only required to replace the damaged tire. If it was a tire that was bald - the insurance company could take the price of a new tire, subtract the amount of difference for a new tire and a tire in the condition of the one damaged and pay the difference. Most of the time, the insurance company will just pay for a new tire and be done with it. For the insurance company to pay for 4 new tires for the claimant vehicle, it would have to be an extreme situation in which the body shop doing the repair work advises that the balance/suspension, etc. would be damaged or unnecessarily worn if only one tire was replaced. Very unlikely. By the way, if you are in an accident and the only thing damaged on your own vehicle is a tire, your insurance company most likely will not pay, even if it goes over your deductible. Most policies exclude damage to tires only.
Short answer... Yes, if you have had to many claims in a small period of time they can raise your deductible. This is the make you stop making small claims, as there are very little amount of large claims out there the small ones are actually the ones that cost the insurance companies the most. So the deductible is to deter you to make you want to cover this loss yourself. For instance if you have had 3 sewer back ups in 3 years, they may either a) cancel sewer back up on your house all together, b)limit the amount of sewer back up you get to for example $10,000 in total, or c) raise your deductible to say $3000 for sewer back you. The agent and underwriting decide which to pick and it would depend out your area and what types of claims the past ones where.
Well, if they are going to pay the deductible directly to your insurance carrier and they except that, and pay for the claim themselves, it has nothing to do with you or your policy This question is a little open ended, but if you have reported the incident to your insurance and your going to accept the rest of the cost of repair out of your own pocket then their "deductible payment" would really just be viewed as a payment on your policy. Further lowering your next renewal cost or sometimes if you owe nothing the insurance my give this back to you. This would not be reflected necessarily as a claim issue.
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