Cheap car insurance has helped you through a number of situations, and you’re surprised at the benefits you’ve received from it. However, cheap car insurance means almost nothing when you are left with a deductible that you cannot pay. Instead of getting yourself into trouble with money, be proactive when it comes to cheap car insurance and deductibles. Take a look at this website for more information about cheap car insurance.
Understanding Your Deductible
If you’ve never heard the word “deductible” before and you have a cheap car insurance policy, then learning what this term means is important. Let’s say that someone hits your car on the street overnight, and you need to have repairs done on the vehicle, whether to fix it aesthetically or to make it safe to drive again. In either case, you bring it the shop and discover that the total cost of the work is $1000. If your have been shopping for some cheap car insurance quotes Texas law requires that it comes with a $500 deductible. That means you will need to pay $500, and your cheap car insurance company will cover the other $500.
Responsibility for Your Deductible
When you go to an automobile shop to get repairs, you may think that it is your cheap car insurance’s responsibility to recover your deductible too. However, you need to keep in mind that you signed up for a plan with a deductible of a certain amount. The responsibility falls on you, not your cheap car insurance company. That’s why you need to look into this information when you first sign up for a cheap car insurance plan. Other people will try to say that the automotive shop is responsible for paying that cost, but that is not true either.
Research Important Information Early
Having a cheap car insurance policy is likely exciting to you, especially in the event that you’ve always felt as though you have paid too much for car insurance. Still though, when you sign up for cheap car insurance, you need to find out what the full agreement is. For example, ask what happens if the other driver is deemed at-fault during an accident. You want to know if your cheap car insurance company will still require you to pay or if the other driver’s car insurance will need to take care of the costs.
When You Can’t Afford the Deductible
When you first sign up for cheap car insurance, you should ask the insurance company what happens in the event that you cannot afford the deductible. The answer may simply be that you cannot have the repairs done to your car. However, it does not hurt to ask, and you may learn about other options that are available to you from your cheap car insurance company or from other sources.
Another option is to put the deductible on your credit card if the auto shop allows you to do so. You can use your cheap car insurance company for the rest of the costs. You may also need to look into taking out a loan to cover the deductible, which can help you in the short term. Just make sure you can pay the loan back.
Fully understanding your cheap car insurance is of utmost importance, and knowing what the deductible is, and how it works, is an important part of that process. This valuable information makes situations less obfuscated for you in the future.