The IRS Deductions Blog

Posts Tagged ‘deductible car insurance definition’

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Question: does the deductible bill for car insurance get sent to your house right away?

got in a fender bender and it was my fault. We exchanged insurance. There’s going to be a $500 dollar deductible.

Will that bill get sent to my house separate from the insurance bill every 6 months?
Or will it be added onto the insurance bill?

My parents went to india and i can’t afford to pay that bill right away

Answer: The deductible applies to any claim for damage to your car.

If you file a claim under your collision coverage. The insurance company will write an estimate for the repairs. Then they subtract $500 from the amount of the estimate. That is the amount they pay you. Then you take the car to the shop to be fixed. When you pick up the car, you give the shop the money the insurance company paid you for the damage plus you $500 Deductible.

The damage to the other person’s car is paid under the liability coverage. There is no deductible for that.

Items on Amazon Right Now for Deductible Car Insurance:

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