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If you have an accident before the deductible is lowered but the claim is not filed until after which deductible applies?


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Wiki User
2015-07-16 18:16:02
2015-07-16 18:16:02

The deductible at the time of the accident not the time of claim.

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A premium is the amount of money you pay the auto/health insurance company monthly, quarterly, or biannually whether or not you get in an accident or go to the hospital. The higher your premium the lower your deductible, and the lower your premium the higher your deductible. A deductible is the amount of money after you get in a car accident or visit the hospital before your insurance company pays anything. After you have met your deductible the insurance company covers the rest of the expenses.

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No. They are responsible for their own deductible. Because, when my van got hit, which was parked, I had to pay my deductible before the insurance company would cover it!

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The amount of a policy deductible on a homeowners insurance policy is chosen by the policyholder. Your policy deductible is the amount you are responsible for paying before the insurance company will payout for a claim. If you experience a loss to your dwelling or your personal property, your homeowners insurance policy deductible applies. The deductible does not apply to other coverages on the policy. If you experience a loss under your deductible, you will not be eligible for a payout. If your loss exceeds your deductible, your deductible will be deducted from your claims payout check.

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The term deductible, when discussing insurance issues, applies to the amount of money you must pay out of pocket before your insurance coverage will pay for a claim. For example, if you have a $500 deductible on your homeowner's insurance policy and you have $1,000 worth of hail damage, you must pay your $500 deductible towards the damage and your insurance policy will kick in to pay the remaining $500 for repairs.

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In terms of auto insurance, the deductible is the amount the policyholder is committing to pay if their vehicle is damaged or stolen before the insurance company is responsible for paying out a claim. A deductible applies to both comprehensive and collision physical damage coverage. Comprehensive will pay for damage or loss to your vehicle resulting from fire, theft, vandalism, hail damage, and wind. Collision pays for damage caused by an accident. You will be required to choose a deductible for each coverage ranging from $0 to $2000. While higher deductibles offer lower auto insurance rates, you will be responsible for paying this amount before the insurance company will cut a claims check. Choose a deductible that is practical for your situation.


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