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If you cause a car accident, which type of insurance will require you to pay the least out of pocket?

If you cause a car accident, which type of insurance will require you to pay the least out of pocket

Features

Tips to pay less in Car Insurance

In Emergency Case

For American People

Intro

An accident is an unpredictable situation while we are driving and traveling. The three main things that always involve in this situation are medical cost, car fix cost, and some fees. These serious things can be resolved by insurance. Therefore, we’re going to talk about the Car Insurance.

If I cause a car accident,

Which type of Auto insurance should I choose to pay the least out of pocket?

During

A: Low deductible plan
B: High deductible plan

What is a Deductible?

A deductible is the money that you agree to pay for the extra car repairing cost after an accident.

Sample Situation 1

After the car crashed, the damage of your vehicle repairing cost is $800.

 Plan
 Meanings
A: Low Deductible 

Annual Cost: $2,000

The Car Insurance company covers $700 for vehicle damage cost as stated in the contract.

So, you have to pay $100 for the deductible amount.

B: High Deductible

Annual Cost:  $1,000

The Car Insurance company covers $400 for vehicle damage cost as stated in the contract.

So, you have to pay $400 for the deductible amount.

As you see in the sample 1, the best answer would be a Low Deductible Plan. However, there are other reasons to consider. To better understand, please read the Sample Situation 2.

Sample Situation 2

After the car crashed, the damage of your vehicle repairing cost is $400.

 Plan
 Meanings
 A: Low Deductible 

Annual Cost: $2,000

The Car Insurance company covers $700 for vehicle damage cost as stated in the contract.

So, you do not have to pay.

B: High Deductible

Annual Cost:  $1,000

The Car Insurance company covers $400 for vehicle damage cost as stated in the contract.

So, you do not have to pay.

From the above samples, you have to consider YOUR OWN CAR (how much its required for repairs cost) and YOURSELF (How is your driving style, careful or not?, How much risk for the accident?, and How much laying money do you have for emergency accident?).

In conclusion, the best answers for the Quote “If you cause a car accident, which type of insurance will require you to pay the least out of pocket?” would depend on yourself.


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