What’s the difference between 500 and 1000 deductible?

What’s the difference between 500 and 1000 deductible?

With a $500 deductible, the insurance provider will cover $4,500 for a $5000 claim. If you opt for a $1000 deductible, it means you will get coverage for $4000. This shows that your insurer provides more coverage with a low deductible. Aug 3, 2021