I’m not sure what you are talking about. The only place where I can think that you may incur two deductibles is a situation where you back into your own vehicle. This could cause you to have two deductibles, one for each car. Often times, companies will waive one of the deductibles in this case. Damages cannot be paid under liability coverage because you can’t be liable to yourself. In a situation where you back into someone else’s vehicle, you liability would pay for their cars damages and your physical harm will pay for your harm to your car. If you hit another vehicle that you own, since you can’t be liable to yourself, liability doesn’t come into play at all, so harm on each car is paid under physical harm on each one as long as you have this coverage on both vehicles. In this case you normally would have to pay a deductible on each car but most companies waive the lowest deductible so that you only have one, and they also only charge the accident against one vehicle.
If someone hits your parked car does their insurance company pay and do you still pay your deductible?
If you determine to go through your carrier — and assuming your policy doesn’t have a provision for waiving your deductible under these circumstances — then, yes, you’ll have to pay your deductible. Your carrier will then pursue the at-fault party for all monies paid, including your deductible. Keep in mind that applying your deductible has nothing to do with liability. It doesn’t matter if your car was parked and unoccupied, or if you were rear-ended. Rather, the deductible is the portion you agreed to pay in the event of ANY loss, regardless of liability. If the at-fault carrier agrees to pay for the damages (which they should, given the facts-of-loss), then you’re correct: You wouldn’t pay your deductible. Your deductible applies only if you’re going through your own carrier, and even then, the at-fault party still owes for ALL the damages. By avoiding your own carrier, you shouldn’t have to pay out-of-pocket for any of the damages. Also, if you do determine to go through your own carrier, they might waive your deductible if they confirm that the at-fault driver has active insurance, and if they confirm that the other carrier is willing to pay. A private practice: When I called my insurance company about this, they told me that if the at-fault person’s insurance company (I’m assuming they’re at fault since they hit a parked car) assumes liability (again, since they’re most likely liable) they’ll cover the damages and I won’t have the pay the deductible. Did I hear this wrong? Also, I live in Pennsylvania, and from what I hear our insurance laws are a little goofy.
If your parked car was hit and the at fault driver was found what options are available if both parties are insured and you have a 500 deductible?
All the damages will have to be paid by the other party’s insurance company. Your deductible isn’t applicable.
If you permitted a friend to drive your car and he totaled it but his insurance company subtracted 500 from the check for the deductible why do you pay for his deductible?
Because this was an at-fault incident, the 500.00 deductible is your responsibility. You as the holder of the vehicle permitted your friend to drive the car to begin with. Your friend in all fairness should pay you the 500 dollars..
I’m a bit confusedWhy is your friend’s insurance paying you? Your own comprehensive/collision policy should pay you (less the deductible) and then “subrogate” the claim to your friend’s auto or general liability insurance or sue him directly if he has no insurance and send you the deductible after they have collected.
Are you responsible for the deductible on the insurance of the car you hit if you do not have insurance?
If you were legally at fault, you are responsible to pay all damages to other vehicle. Even if you pay the other persons deductible, that insurance co. will come after you for total amount. The person that you gave the money to for their deductible will then have to give some of that back to insurance co., if they find out that deductible was given to him (her) by you.
Will your insurance pay for a child who hit your car with a filth bike Will you have to pay a deductible or will his parents need to do that?
If you have collision coverage you can receive payment for the damages minus your deductible, your company then should go to the child’s parents for repayment (subrogating them), including your deductible. The parents are ultimately responsible, and can file the claim with their homeowner/renters policy. However, I would suspect an exclusion for any land motor vehicle. Beware, if you have the parents pay just the deductible, and your carrier pays under your collision coverage, them simply paying your deductible does not free them from paying your insurance company the rest of the harm.
Is there an insurance deductible on glass?
It depends on your coverage. Glass is typically comprehensive and some policies have ded’s and some don’t. You may want to check with your insurance company as all policies and companies differ. Additionally, many States expressly prohibit insurers from imposing deductibles on winshield replacement claims. The public policy basis for this is so that owners/drivers will not be dissuaded from having windshields substituted for financial reasons. A bruised windshield can result in visibility/safety issues, and it is in the public interest to avoid these.
What is a health insurance deductable?
It’s basically the amount of (in this case, medical) expenses that an insured person has to pay before the insurance kicks in and starts to pay. The trend is to modify the basic “all or nothing” deductible concept to include “co-pays”, where the insurance pays for certain types of services (such as an annual health examination) even before the deductible is met, with the insured paying a token amount (say, $Ten) for the service and the insurance picking up the rest. This is beneficial for both parties: the insured doesn’t have to come up with the total cost of the exam, and the exam may detect a condition early, while it can be treated lightly and cheaply (therefore saving the insurance company money in the long run).
What does dual deduction mean?
Dual deduction often refer to a tax ease. In computing your profit, we would have claimed an expense to arrive at the profit. Some countries provide an extra deduction on the same expense against you net profit to arrive at your taxable income. Thus the term Dual DEDUCTION.
If you accidentally hit your wifey’s car with your car and both vehicles are insured on the same policy will you have to pay two deductibles or will it be treated as a single accident?
You need to check with your agent. In some cases, accidents involving relatives are not covered.
What is a health insurance deductible?
The “deductible” is the dollar amount of health care costs that must be borne by the insured individual before the insurance coverage takes effect. Once the insured patient has paid that dollar amount, further costs will be borne by the insurance carrier. These out-of-pocket costs may be set on both a per-event and a yearly basis.
What is a Deductible for medical insurance?
A deductible is the amount that the policy holder must pay before any benefits are covered under the plan. Some plans do cover some limited services prior to the deductible being paid, or they may not cover any. It is significant to know what your deductible amount is, before you purchase a policy, to make sure that you can truly afford it in the event you need medical services.
Are car insurance deductibles cumulative or per claim?
Car insurance deductibles are the amount which the policy holdermust pay out of their own pocket in the event of an accident. It isstandard for deductibles to be applicable for each claim.
What is an insurance deductible?
A deductible is the amount that the insured has agreed to pay before the insurer is obliged to pay anything on a covered claim. It can be considered to be an amount for which the insured has agreed to “self-insure”. In general, there is a correlation inbetween deductibles and premium, in that a higher deductible will correlate with a lower premium.
Is there a deductible on comprehensive auto insurance?
Yes. Most insurance companies do have a deductible for this kind of insurance. Most deductibles are 500. This can be a normal charge for a deductible.
What is health insurance deductible?
That’s the amount of money you have to pay before the insurance company will pay anything. Sometimes it’s $500 sometimes it’s much higher.
What should your Deductible for car insurance be?
Well the higher your deductible, the lower your insurance premium will be. However, your deductible should be something you can afford in case of a loss.
What is deductible buy down insurance?
A standard insurance policy provides for deductibles (or excess) clause, i.e., a claim is lodged by the insurer only in excess of the thresholds specified under this clause. The insured can buy supplemental insurance to cover a part or total of this “deductible” amount. This supplemental insurance is called deductible buy down insurance.
How do health insurance deductibles work?
An insurance deductible is a set amount of money that the insured is required to pay before the insurance company starts to pay. For example, if your deductible for the year is $100.00, and your very first insurance bill is $150.00 , they will only pay $50 and you will have to pay $100 (deductible). Every insurance bill after that will be paid for by the insurance company until the end of the year and then the cycle starts again. The deductible is your responsibility.
Where do you file a claim to sue for deductible from a car accident involving a car with no insurance with no insurance?
If I understand your question you are attempting to recover a deductible you incurred due to the fault of the other driver who was uninsured? If this is the case it may depend on the state in which you live and what coverage you may or may not carry. If you are from CA, we have what is called UMCDW or uninsured motorist collision deductible waiver, which if you were carrying this type coverage as part of your auto policy, it would pay your deductible if your vehicle were hit by an at fault, identifiable uninsured driver. If you do not have similar coverage on your policy or in your state, you may simply have to file a claim in petite claims court to recover your deductible and good luck. In many cases if you are dealing with an uninsured driver, even if you win judgement you still have to be able to collect it…sometimes the hardest part! In the future you may want to consider a product called CDRP which is a Collision Deductible Reserve Plan to insure your deductible is always available for you when you need to use it. It is a very wise financial stir that can not only save you hundreds if not thousands on your car insurance premiums but would give you peace of mind knowing your deductible is always there when you need it! You can learn more about this incredible product at TheFiveMinuteMove.com .
Are disability insurance premiums deductible?
You can pay for your disability premiums pre-tax through payroll deduction. If you do this any benefit will be taxed as well.
Who is liable for car A’s deductible if both car A and B are insured and A rear finishes B and lies that they were hit and run by car C but car B has no harm?
Car c is liable for both cars .
but if you don’t know the license plate blame car d
How do deductibles work for health insurance?
A deductible is the amount of your actual, billed health care costs that you must pay before the insurance will kick in. Your premium does not count towards your deductible. The higher your deductible, the more you have to pay before your insurance will begin to cover your bills.
How does your deductible work in home insurance?
The amount of a policy deductible on a homeowners insurance policy is chosen by the policyholder. Your policy deductible is the amount you are responsible for paying before the insurance company will payout for a claim. If you practice a loss to your dwelling or your individual property, your homeowners insurance policy deductible applies. The deductible does not apply to other coverages on the policy. If you practice a loss under your deductible, you will not be eligible for a payout. If your loss exceeds your deductible, your deductible will be deducted from your claims payout check.
If you get into a car accident and the other person does not have insurance do you still pay the deductible?
This depends on many factors, including the capability of the other person to pay for your damages. Some insurance policies will not require you to pay a deductible. Others will. If the other person can pay for the damages, you and your insurance will not have to pay.
What is the collision deductible for in auto insurance?
You are able to chose your own deductible, but you have the car financed or leased, they may dictate the maximum limit.
What does deductible on health insurance mean?
Within every health insurance policy there are “free” benefits, such as preventive care. In addition, most policies – not all – suggest benefits such as a copay for office visits and even copays for precriptions benefits. Let’s refer to these benefits a PRE-DEDUCTIBLE benefits. Other than whatever pre-deductible benefits are included on your policy YOU are responsible for all other medical expenses until you have spent the amount equal to your deductible. If you have a $1,500 deductible, other than your pre-deductible benefits, you would be responsible for the very first $1,500 in medical expenses each calendar year. After that, the carrier will begin paying their share.
Can insurance deductible be deducted?
Unreimbursed medical expenses are only deductible in the year that they are paid as a part of all other unreimbursed medical expenses on the schedule A itemized deductions of the 1040 tax form subject to the 7.5% of adjusted gross income limit. The amount over the 7.5%limit is added to all of your other itemized deductions on the schedule A tax form.
Do you want a high insurance deductible?
It depends on the person. The advantage to a higher deductible is lower premiums, however, the disadvantage is having to come up with a large sum of money if you’re involved in an at-fault accident. A good question to ask yourself is (for example, if your deductible is $1000), “If I’m involved in an accident that is my fault, can I come up with $1000 quickly?”
Nancy has a 100 deductible on her comprehensive insurance policy If her car repairs total 750.50 how much would her insurance company pay on the repair of her car?
All other things being equal, if the loss comes under the comprehensive coverage of her policy, and is not otherwise excluded, the insurer would pay $650.50; she would be required to pay $100. Keep in mind that comprehensive deductibles and collision deductibles are sometimes different. Therefore, it is significant to be sure of which coverage is involved. Glass claims are usually covered under the comprehensive coverage. Many States have statutes that prohibit insurers from applying the policy deductible to the repair or replacement of a windshield if that is what is involved. Therefore, the law of the State should be consulted.
Can you pay dual next month if you skip current payment for car insurance?
No, but you could pay dual the payment when it is due and not pay the following months payment.
Is insurance premium part of deductible?
The insurance premium is the amount you pay the insurance company every month. The insurance deductible is the set amount which you pay out of pocket for repairs after you make a claim. For example… you may pay $100 to the insurance company every month for the insurance policy and have a $500 deductible. If you file a claim you are expected to pay for $500 of the repairs yourself, while the insurance policy covers anything above that amount up to your max thresholds.
Who do pay your car insurance deductible to?
Your deductible only gets paid in the event of a claim. For example, you tap a light pole in the mall parking lot. The pole is ok but your car is bruised. If you have comprehensive coverage on your car, your insurance company will pay a claim to have it repaired. So, you get a figure shop who says it will cost $1,400 to fit it. If your deductible is, say, $500.00, your insurance company cuts a check to the bod shop for $900.00 which is the difference inbetween the harm repair bill and the deductible. Thus, you must come up with the $500.00 amount.
What is a heath insurance deductible?
Its what you are required to pay out-of-pocket before your insurance will cover the costs of your medical bills. Sometimes known as “co-pay”.
What is a deductible in auto insurance?
A deductible in any kind of insurance is, basically, the minimum amount before the insurance “kicks in.” On any repairs covered by your insurance, you will have to pay the deductible amount before the insurance will pay anything.
Does your auto insurance deductible cover your car and the car that you hit in an accident?
You do not pay a deductible for the car that you hit. Your liability coverage does not have a deductible.
Can you deduct life insurance on taxes?
Generally as personally possessed life insurance you would not deduct the premiums on your taxes. This would make the normally nontaxable death benefit subject to taxation.
Is there a deductible on liability auto insurance?
Not with respect to private auto insurance. However, when commercial auto insurance is involved, especially fleet coverage, there sometimes is. It is not called a deductible, but a “self-insured retention”. The insured selects an amount that it is willing to pay toward the indemnity of a third party before the insurer’s obligation to pay is triggered.
What are deductables on RV insurance policies?
RV insurance policies have the same kind of deductibles as other insurance policies. You need to contact your insurance company and ask them what the deductible would be depending on the RV you have chosen.
What is an AOP deductible in property insurance?
AOP stands for “all other perils.” This would be your deductible onlosses covered under your policy. Examples would be fire, theft, orvandalism. This would be separate from other deductibles that mayapply to other covered losses (for example, harm caused by ahurricane).
Why there is compulsory deductible in insurance policies?
One to avoid smaller claims preferred by the insured – two treated as a copayment since the insured who chooses the claim should share a meagre portion of the liability.
Can your insurance go after someone that bruised your car and get your deductible back?
Yes. If someone hits your vehicle and the insurance company pays for the damages, they will go after the person who was at fault for the damages paid and after they collect all the money paid out they will reimburse you for the deductible that you paid when the vehicle was repaired. The damages were paid under your uninsured motorists coverage which has at least a $250 deductible for property harm so when all the damages are recovered from the person, that will include the deductible and you will get a check back for that amount.
What is a dual deduction in auto insurance?
The deductible will dual if the loss occurs during a certain timeperiod. So if your deductible is presently $500, you will pay$1,000 before the insurance will pay any amount. Typically thisapplies only for the very first two or three months of a fresh policy.After that, only the $500 will apply. The benefit of selecting adouble deductible policy is that it lowers your premium.
What are the deductibles of auto insurance?
Typically, auto insurance deductibles come into play with respect to collision and comprehensive coverage–both of which apply to physical harm to the insured vehicle. Some States also permit an insured to elect a deductible with respect to No-Fault coverage. This coverage is required by law in virtually all States. The rules concerning No-Fault deductibes are prescribed by law because the coverage is mandatory. Deductibes of all types can be likened to self-insurance. That is, the insurance company’s responsibility to pay does not fasten or begin until the deductible amount has been reached. For example, if a vehicle proprietor has a $500 collision deductible, and physical harm to the car is $1500, the insurer would pay $1000 and the insured would be responsible for $500. Stated otherwise, the insured “self-insures” for the very first $500. Physical harm deductibles come in various amounts, but are fairly standard inbetween companies. Deductibles can range inbetween $100-$500 or more. Generally, a higher deductible translates into a lower premium because the insurer’s responsibility for payment does not fasten until after the deductible amount has been reached.
What kind of insurance is tax deductible?
Insurance for one’s private property such as auto or homeowner’s insurance is tax deductible. Other tax deductible insurances are medical and dental insurances.
Do most car insurance companies suggest a numerous car deduction?
Most should, such as the big named companies like State Farm. Allstate, Geico, and Farmers. To get a numerous car deduction, each driver is most likely going to have to get approved.
What are the best deductibles to pay on car insurance?
It is hard to say the best deductible to pay for car insurance since it will vary by person. It depends on how much a person could afford to pay out of pocket if they get into a pocket, and if a person thinks that they would get into accidents often.
Example on deductibles insurance?
An example of deductibles insurance is an ambulance taking aninjured person to a hospital. The ambulance is usually subject toits annual deductibles.
Can an insurance company come after me for car repair damages caused by my son leaping on a car if I pay the victims deductible?
Absolutely. Not only are you legally liable for the amount of the damages but by paying the deductible you basically admitted your liability. When you agree to pay and you will agree to pay make sure you let them know that you paid the person for their deductible so you can get credit for that amount as long as the other party does not deny that you paid them.
What type of insurance has a tormentor deductible?
Tormentor stands for self insured retention. It is a deductible appliedto some liability policies. The term deductible is used forinsurance that covers property losses, such as the insurance thatwould substitute your house if it burned down. Retention is a termthat refers to liability insurance, insurance that pays on yourbehalf if your negligance caused someone else to suffer a loss. Certain liability policies,such as umbrella policies andprofessional liability policies require the insured to, undercertain circumstances, pay for part of the loss. The self insuredretention is paid by the insured before the insurance company paysfor the remainder of the loss. On umbrella liability policies theself insured retention applies to losses that are not covered byunderlying, primary liability policies. On professional liabilitypolicies, the self insured retention applies to all losses, and isa way for the insured to lower their premiums by retaining the riskof losses up to a certain amount.
What is healthy insurance deductible?
Health insurance deductables are what you have to meet out ofpocket before your health insurance companies begin paying.