Deductables?

One of the most asked questions that hear at the shop is about deductibles. Deductibles are the portion you as an insured is required to pay. Normally this is the first portion of the claim. So if there is a $800 dollar insurance claim, and you have a $500 dollar deductible, the insurance would be paying the difference in this case the $300.00

Deductible amount

The first thing is the amount. This is normally selected at time of purchasing the insurance contract with your insurance company. Normally the higher the deductible the lower the insurance premiums are. When shopping around you should check the amounts of the deductible along side the the premium to be able to compare apples to apples. The amounts are as low as $100 to $5000 dollar deductibles for automobile policy. It is important to check personal finances to select an amount that is affordable. One should also see the difference between the insurance Premium and the deductible amount. You might choose a $1000.00 deductible however it might only be a few dollars less then selecting a $500.00 deductible. I would check the prices before locking in.

Payment of deductible

The payment of the deductible is usually to the shop. I get asked if we can save a deductible? The answer may not be what you want to hear. In the state of New Jersey its illegal to save a deductible by over inflating the insurance estimate. This could lead to hefty fines and other legal procedure.

If you have any additional question feel free to contact us at 973-383-9796 or email us info@midtown-collision.com