Diminishing Deductibles

Auto insurance is required for every driver on U.S roads. Luckily, with so many insurers in the market, things are getting easier for your pocket as a car owner. One of the latest benefits that come with your policy is a diminishing deductible.

Diminishing Deductibles in Brief

You must have watched countless commercials, but did you really get what this deductible is all about? In every auto insurance policy, there is a deductible, which is the amount you pay out-of-pocket before your insurer covers your claim.

A diminishing deductible is a reward for being a good driver with no claims. Every 6 months, or one year, your insurer will give you a specific dollar credit to cover your collision deductible. Say, for instance, you have auto coverage with a deductible of $500. This is the amount you would pay in case of a collision.

If you make no claim, say in 6 months, your insurer will give you a $50 credit towards your deductible amount. This goes on every six months over a period of 4 years, and in case you do not make any claim, you will end up with a policy with no deductibles.

The Benefits of Diminishing Deductibles

It goes without saying that you will enjoy:

There you go. It might sound too good to be true, but millions of drivers are reaping from it. Why not you?