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It depends. If you plan on having a lot of claims against the insurance, 500 deductible is a better deal. If you only want the insurance to protect you from MAJOR disasters that don't usually happen in your life, 1000 deductible is much less money. For the difference in the cost of the insurance, I'd much rather have the 1000 deductible. I'd just put the difference in the cost of the premium into the bank and let it draw interest. Then, when/if I have a claim, I would use that money to make up the difference. In the end, it's all just a crap-shoot. Insurance companies are betting that you'll NOT cost them more than the premium that you pay, that's how they make money. On the other hand, we're ALL hoping that we never have to use the insurance but want them to take care of EVERYTHING if we have a problem.
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What is the deductible for renters insurance?
You choose. Most likely $250, $500, $1000 and maybe $2000
What kind of deductibles should I expect with cheap auto insurance?
The most popular deductible is $500. But with very cheap insurance you can look to have a $1000 deductible some times.
Can a lien holder determine your insurance deductible?
I've had a lien holder tell me they require a $500 deductible and I argued with them on it and set my deductible at $1000 like I always do. They never repossessed the car, but that was a chance I was willing to take. I think if that went to court a Judge would see it the same way. The difference for me in payments from a $500 to a $1000 deductible is about 40% per month, so it's significant. On the other hand, you need to review the contract you signed to determine if there is a provision regarding the deductible. If it's in the contract that you signed then you cannot breach that agreement without consequences.
What is the average deductible for antiques insurance?
The average deductible varies depending on your company. However, on average, the deductible is about $1000.
What is the difference between deductible and premium?
The premium is what you pay for the policy. The deductible is what the insurance company will not pay for what is covered. For example you buy a car policy for collision. You pay the premium of $50. If you crash the car, the company will not pay any thing less than the deductible. If the deductible was $1000 and you sustained $1500 damage, the company would pay you $500. If the damage was less than the deductible, you get nothing.
What is 1000 minus 500?
1000 - 500 = 500. It's the same as asking: 1000 x 1/2.
If the damage is 800-900 and the deductible is 500 would it better to pay for the repairs instead of filing an insurance claim?
If you have an extra $800-$900 laying around that wouldn't strap you financially, then I would pay for it. If you can only afford the $500 deductible, I would use the insurance, because that's what it there for.
What is 500 times 1000?
500 * 1000 = 500,000
Which is better 300 GB or 500 MB?
1000 mb = 1 gb so 300 gb is 600 times better than 500 mb
Is there a deductible on comprehensive auto insurance?
Yes. Most insurance companies do have a deductible for this kind of insurance. Most deductibles are 500. This can be a normal charge for a deductible.
What is meant by the term deductible?
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.
Do home insurance policies cover or discount on home repairs?
Home insurance policies cover all kinds of mishaps and repairs. The discount is called the deductible. When you purchase a policy you select a deductible amount of damage or loss that you pay for first and they pay the difference afterwards. The $100 deductible cost more per month than a $500 or $1000 deductible. Read your neighbor's policy. You might learn a bit about that subject.
