Is a 500 deductible good?

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1. How does a $500 deductible work? How Do Deductibles Work? A car insurance deductible is what you have to pay out of pocket to cover damages from an accident before the insurance company covers anything. For example, if you have a $500 deductible, you’ll have to pay that $500 out of pocket before your insurer will...
2. Is a 500 dollar deductible good? Most often, a lower deductible means higher monthly payments. If you have a low deductible, you have more coverage from your insurance company and you have to pay less out of pocket in the case of a claim. … A low deductible of $500 means your insurance company is covering...
3. What does a 500 dollar deductible mean for car insurance? After you pay the car deductible amount, your insurer will cover the remaining cost to repair or replace your vehicle. Example: You have a $500 deductible and $3,000 in damage from a covered accident. Your insurer will pay $2,500 to repair your car, and you’ll be responsible for the remaining...
4. Is a 500 or 1000 deductible better? If you have a $1,000 deductible your insurance pays for anything over that amount. That $500 difference in your deductible could make a big difference in your premiums. And the lower the deductible you want the higher your premium could go. For some people having a lower premium each month...
5. Is it better to have a high deductible or low deductible? Low deductibles are best when an illness or injury requires extensive medical care. High-deductible plans offer more manageable premiums and access to HSAs. HSAs offer a trio of tax benefits and can be a source of retirement income. Aug 25, 2021...
6. Is 500 a month too much for car insurance? According to The Zebra, a $500 deductible is the auto insurance industry standard. On average, drivers can expect to pay just over $900, or around $150 a month, for a six-month policy that includes a $500 deductible. Apr 29, 2021...