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Is it typical for an insurance company to require the deductible paid to them even if the accident wasn't your fault and you will be reimbursed for losses by the other driver's insurance?
Wiki User
∙ 16y ago
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......
Wiki User
∙ 16y ago
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Difference between a deductible and a premium?
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.
Can you still collect on your own insurance without paying the deductible after an accident.?
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.
What does a deductible mean if you are in a car accident?
A deductible, or insurance deductible, is an amount of money the first of which the insurance company will not pay towards the cost of the loss suffered. For example, a $500 deductible means that the insurance company will not pay the first $500 of a loss. Deductibles are made for the purposes of keeping the costs of insurance down by making the insured pay a certain amount of money and not make a claim towards minor losses. If the accident is the other person's fault, either their insurance company will pay that deductible or you can sue them in court.
Do you have to pay the full deductible even if the accident wasn't your fault?
Yes. If the claim is being made on your insurance. For example, if the damages are $2000 and there is a $500 deductible, the insurance company will pay $1500.
How do you get an accident claim against own car when the car is fully insured?
Report the accident to your insurance company. If this was a single car accident - meaning yours- your insurance will have to pay for the repairs minus your deductible. If another party caused the accident you need to turn their insurance information over to your company and they will take it from there.
What happens if the driver has no car insurance and they cause the accident?
It depends. Many insurance companies will have you pay your deductible, then they will attempt to collect the money from the other driver personally. (This is what happened to me when my car was struck, in Massachusetts where insurance is required, by an uninsured motorist from New Hampshire, where auto coverage is optional.) It took about six months, but my company did eventually recover the money and I was reimbursed.
Can you file a claim on both insurance companies yours and the party at fault in an auto accident?
Yes, you can. However, ultimately it is the at fault party's insurance company that will pay for the claim. In such a case, you will file a claim under your collision coverage and be subjected to the deductible. Once the claim is settled, your company will subrogate the loss with the other company(i.e. get reimbursed). Once that happens, you will be provided your deductible back. If you go through the at fault party's policy, you would file the claim under the property damage of the policy.
What happens to your deductible or premiums if you have accident claims?
In order to know the answer to this, you would need to contact a custumer service representative at your insurance company.
If my insurance company deducts my deductible from a homeowners claim do i still pay the deductible?
Yes. The insurance company will pay their portion of the claim which does not include the deductible because that is your portion .
I had a single car accident with no injuries and just damage to my car. How do I proceed with my insurance company?
You call your insurance company and file a collision claim. You pay your collision deductible and they will set up repairs for your vehicle.
If you are at fault in an auto accident do you have to pay the other persons deductible and my vehicle had already been damaged?
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!
Who is responsible for insurance deductible in an accident of commercial vehicle?
The Company who owns the vehicle would be responsible for deductibles listed on the policy their own policy.
