When you’re in an accident or your car gets damaged, navigating through insurance claims and repair costs can be a daunting task. At Liberty Collision, we’re committed to helping you understand every aspect of your car’s repair journey, from our state-of-the-art diagnostic systems to working with insurance companies to get you back on the road. One important topic that often comes up during repairs is the concept of insurance deductibles.
What is an Insurance Deductible?
An insurance deductible is an amount you, the policyholder, are responsible for paying when you file an insurance claim for an insured loss. Essentially, it’s the out-of-pocket expense you incur before your insurance company starts to cover any additional costs related to your claim. The deductible is agreed upon when you first establish your auto insurance policy.
How Does the Deductible Work?
Let’s say you’ve been in a minor accident and the cost to repair your vehicle is $2,500. If your insurance deductible is $500, you will pay that amount first, and the insurance company will cover the remaining $2,000.
Choosing Your Deductible
The deductible is not a one-size-fits-all number. When you initially set up your insurance policy, you get to choose the deductible amount. Here’s where it gets interesting: the higher the deductible, the lower your premium (the amount you pay for the insurance policy) will usually be. This can be a cost-effective choice in the long run if you seldom make claims.
What Liberty Collision Wants You to Know
At Liberty Collision, we believe in complete transparency, and that includes discussing the topic of insurance deductibles. It’s a common misunderstanding that repair facilities like ours have the authority to “save” or “waive” your deductible. The reality is that we don’t have the ability to do this.
Why Can’t We Save Your Deductible?
It’s important to note that asking a repair shop to save or waive a deductible often violates the terms of your insurance contract. This could lead to insurance fraud charges, which is something no one wants to be involved in. We are committed to providing quality repairs while following all legal and ethical guidelines.
Our Advice to You
Before you find yourself in a situation where you need to file an insurance claim, make sure you understand your deductible. Factor in how often you’ve needed to file claims in the past, and how much you can reasonably afford to pay out-of-pocket should an incident occur. Then choose your deductible wisely.
At Liberty Collision, we’re here to provide expert service and advice. Although we can’t help you with your deductible, we promise to guide you every step of the way through the repair process, ensuring you receive the best service possible.