What is it called when you have to pay the first 1000 of the cost of a car accident?
What is it called when you have to pay the first 1000 of the cost of a car accident?
A car insurance deductible is the amount of money you’ll pay out of pocket for an accident before your insurance company pays the rest. For example, if you file a claim for $1,500 and you have a $500 deductible, you will have to pay the $500 deductible before your insurer will cover the remaining $1,000 balance.
