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What's a Deductible?

The insurance deductible is your portion of the out-of-pocket claim cost you agree to pay when you make a claim covered by your policy. For example, if you're in an accident resulting in $1,500 in damage to you car and you have a $500 deductible, you pay the first $500 and we pay the remaining $1,000 to get your car back on the road.

When you set your insurance deductible, keep in mind that:

  • The higher your deductible - the lower your auto insurance or home insurance premiums will be.
  • By lowering your deductible, it means that you'll pay less out-of-pocket costs when you make a claim, but you'll pay more in your regular policy premiums throughout the year.

What's the Best Way to Decide?

Lower premiums and higher out-of-pocket expenses? Or vice versa? There's no "one size fits all" answer for car insurance limits & deductibles, but Campbell Insurance agents are always available to talk about your situation and/or lifestyle, outline the options that may be best for you, and explain what your preferred choices might mean for your policy premiums. We're here to help you, so feel free to ask any questions - even if you think they may not be important. You could be surprised.