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You carry collision coverage on your vehicle with a $500 deductible. Since the deductible is your responsibility, your insurance company would pay $700 towards the repairs. Comprehensive (COMP or OTC)
Your deductible: Both collision and comprehensive coverage have a deductible, which is the amount you’ll pay out of pocket if you file a claim for those coverage types. A higher deductible will ...
If you have a $500 deductible and your comprehensive and collision costs $700 annually, full coverage could be worth keeping.: [$8,000 $500] > [$700 ️10] $7,500 > $7,000
$500 collision deductible. $500 comprehensive deductible. To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own ...
Comprehensive. Comprehensive coverage, also called other-than-collision coverage, pays for the damage to your car not covered by collision. This includes: ... Like collision, the deductible you ...
Your lender will usually require collision and comprehensive coverage if you are financing or leasing, and they may have rules regarding your deductible amount. Comprehensive coverage (COMP or OTC ...