What is the ideal deductible for your car insurance?

A big mistake for those who take out insurance is to always look for the lowest premium price and forget that this can directly influence the deductible. But how do you know the ideal deductible for your car insurance? So you can understand, the premium is what everyone calls the “insurance value”, that is, how much you will pay to keep your car insured. This amount can normally be paid in a single installment or divided into several installments as agreed with the insurer.

The deductible is the part that the insured must pay when an accident occurs with the vehicle. This is how the insurer bears part of the loss and the insurance bears another. However, the lower the premium value, the higher the deductible will be if an accident occurs.

Choose the ideal deductible for your car insurance

To choose the ideal deductible for your car insurance, you must know the types of deductibles:

Normal or mandatory deductible

This type of deductible is the most common and the one that insurance companies usually offer. It is recommended for those who do not yet have a very well-defined profile behind the wheel or for those who are taking out insurance for the first time, because it is an intermediate deductible.

Its values ​​are defined according to the vehicle model and will vary from one car to another.

Extended or increased franchise

This is the most expensive deductible option, it costs up to 200% of the normal deductible, meaning that in the event of an accident the driver's share will be much higher. If on the one hand it is more expensive, on the other hand the value of the premium decreases significantly so the values ​​end up being balanced.

It is recommended for those who have a prudent profile and who are not usually involved in accidents or in minor accidents that do not involve the need to claim insurance.

Reduced deductible

This is the opposite of the extended franchise and costs 50% less than the normal franchise. Although the premium value is more expensive, the deductible value is significantly reduced and is recommended for those who have a history of being involved in several accidents.

When to claim insurance?

What many people don't know is that it is not always necessary to activate the insurance, because every time it is activated you have to pay the deductible and in many cases this may not be worth it financially.

The first thing to check is the value of the damage, because if it was small and the repair was cheap, it may be lower than the deductible value in this case, it is much more worthwhile for you to pay and just notify the insurance company.

However, the opposite also happens, when the cost of repairing the damage to the vehicle is very high, it is worth calling the insurance company, as you will pay the deductible and they will pay the remaining amount.

Another fact that many people are unaware of is that the person who caused the accident pays the deductible, so if someone hits your car, they will be the one who will have to pay for the repairs. In this case, it is her insurance that must be activated and the deductible will also be hers, and if she does not have insurance, then the person who caused the accident will be responsible for the total costs.

Once you know the ideal deductible for your car insurance, you can get a quote at SeguroAuto.org and know how to choose the best one for your needs.