Auto Insurance Deductible Erie Pennsylvania PA
Reader’s Question
Hi, I’m from Erie Pennsylvania PA. Can you please tell me the meaning of a deductible in auto insurance?
Christine
Erie PA
Hello Christine
A deductible in an auto insurance policy is any additional payment in an auto insurance policy. I’m sure that this definition is the same in Erie Pennsylvania PA) as in any other city in the US. To define this further, a deductible is the established sum in your auto insurance policy as agreed upon by you and your auto insurance company. As the auto insurance policy holder, this amount is what you pay for when you have your car fixed after an accident. Normally in Erie Pennsylvania PA, the deductible amount in your auto insurance policy is paid directly to the business institution that is doing the repairs and any other services to your car because of the accident. In times when your car is considered by your insurance company to be a “total loss” after an accident, meaning your vehicle’s value is less than the cost of the service and repairs, insurance companies subtract any amount in excess of the sum total as agreed by both parties beforehand and as confirmed in the auto insurance policy. In situations where the vehicular accident is the fault of the other party, the same excess amount will be paid to the auto insurance company of the other party.
To know more about auto insurance policies in Erie PA, you can get free quotes in this site. The coverage and other provisions may be shown in the quotes.
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