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Home > Cars & Transportation > Insurance & Registration > If my car has $780 worth of damages and my insurance company gives me $1000 deductible, is it worth it to get it fixed?

If my car has $780 worth of damages and my insurance company gives me $1000 deductible, is it worth it to get it fixed?

  • Best Answer

    Your insurance company isn't giving you a $1000 deductible. They're taking $1000 off the cost of repairing the damage.  

    The $1000 deductible is the amount you chose in order to lower the cost of your insurance. This means that, in any accident, you will have to pay the first $1000 out of your own pocket to repair any damages. In your case, there's only $780 worth of damages but your deductible is $1000. The deductible exceeds the cost of repairs, so there's no point in even filing a claim.

    People go with $1000 - $2000 deductibles in order to lower their insurance premiums a few dollars; then they have an accident and find out that they don't have $1000 lying around in their wallet. You might want to consider lowering your deductible to, for instance, $500. Your premiums might be slightly higher; but, if you had had a $500 deductible, your insurance company would have paid you $280 to repair your damages. 

    Edna
    Lv 7 8 months ago 4 0
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