543 Day Writing Journey

Deductible Talk for my Sons. Day 67.

Since Sammy has his own vehicle now, a full-time job, and has graduated college, he has his own car insurance. Some of the lingo and decisions he had to make confused him.

“What’s a deductible?” he asked.

I tried to quickly tell him what that meant, and after a few words his eyes glossed over and he was clearly not absorbing any of it. I think it will work better if I type it, so here it goes:

If something happens to your vehicle or because of your vehicle and you have to make a claim, the deductible is what you subtract from the claim total amount. For example:

If the cost of repairs, damage to property, or injury is $1000:

  • If you have a $100 deductible, your insurance will cover $900 of the total.
  • If you have a $250 deductible, your insurance will cover $750 of the total.
  • If you have a $500 deductible, your insurance will cover $500 of the total.

The lower the deductible you decide to have on your policy the better the payout will be if there is an accident, but it will cost you more on your monthly payments. Yes, it would be better to save the money each month and keep some aside for emergencies, but a lower deductible guarantees you won’t have issues paying out if need be because, let’s be honest, good intentions to save the money are not easy to stick to.

That’s all for my insurance speech concerning deductibles. Book mark this page, sons.

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