Alliance Insurance of the Rockies is here to help you with all of your insurance needs. As an insurance broker in Colorado Springs, we’re able to help you find the best auto insurance, home insurance, condo insurance, and renter’s insurance policies. Our team of professionals is also passionate about educating our customers so they can make informed decisions. One area that we help our clients with a lot is understanding insurance deductibles. Insurance deductibles can be confusing to grasp, so we’re here to help you understand your deductibles and why they are important.
Insurance deductibles include the amount of money you pay out of pocket before your insurance company begins to cover expenses. If you’re in an accident or your home is damaged by a natural disaster, you’re responsible for paying the amount of your deductible before your damages are eligible to be covered by your insurance company. A few types of insurance deductibles include:
An insurance deductible is the amount you’re responsible for paying until your insurance company begins to cover your expenses. Copays, on the other hand, are usually charged after you’ve met your deductible requirements.
Usually, having a higher deductible means your premium is lower. This is because you’re taking a risk by being willing to pay more upfront, so the insurance company rewards you by minimizing the amount you have to pay each month.
Yes, of course! After analyzing your financial situation and your insurance needs, we’ll help you choose a deductible that will serve you best.
Most car insurance deductibles are roughly 500 dollars.
In most cases, if you’re found to be the reason behind a car crash, then you’ll be required to pay your deductible before you can seek payment for damages incurred.
Yes, renter’s insurance policies also have deductibles. This deductible works in the same way as a homeowner’s insurance deductible.
Team up with Alliance Insurance of the Rockies today and request a free, no-obligation insurance quote. Once we understand your insurance needs and your financial situation, we can help you choose an insurance policy with a deductible that’s right for you! With over 25 years of experience, we’re able to answer all of your insurance questions and help you make thoughtful financial decisions. To learn more about your insurance options, please fill out the form to the right!