Money Matters
pointsin2016
member
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Insurance
I have a question about Deductables on Car Insurance, If I have a deductable of 1000.00, and something happened to my car that I needed to repair but the damage is not close to 1000.00, would I still have to pay the 1000.00 deductable?
Re: Insurance
Auto Insurance is different by state.
If the repairs are under $1000.00, then don't even bother making the claim on your insurance. Just pay for the damage. If it was the other drivers fault, sometimes you can get them to pay for it. While Michigan is a No-Fault state, there is a mini tort law. It basely explains that if someone else is at fault, you can get their insurance to pay your deductible.
Not knowing what state you are in, this is very vague information.
If the damage is the other driver's fault, than their insurance will cover all of it. Of course, you might have to wait a few months before the other company coughs it up.
And, to me, (the above) is also important. My car was totaled by another driver two years ago. There was no question whatsoever that the accident was her fault. Yet, it took her insurance company over THREE months to pay for the damages to my car. My deductible was $100. Fortunately, I had comprehensive insurance. My insurance immediately paid me out for my car...minus the $100 deductible. Of course, I eventually got my deductible back. But, by the time that happened, it was four months later. So, thank goodness it was only $100 instead of $500 or $1,000, because I needed to go buy a new car almost immediately.
And yes, if the accident is your fault and/or the other driver is uninsured, you're responsible for the first $1,000 of repairs. So if its a minor accident and the fender just needs to be replaced for $500, you'll have to pay for that anyway.
Especially if coming up with the first $1,000 of repairs would be a hardship for you, I'd look into changing your insurance to lower the deductible. It's usually a pretty negligible amount. I live in an area with VERY high car insurance rates. Yet, even for me, the difference between a $1,000 deductible and a $100 deductible is about $12/month. Even lowering it from $1,000 to $500 would probably only cost you a few extra dollars a month.
Yikes! That's great that he had the receipt. I'm not sure it would occur to me to hold on to something like that.
We've got state farm in Virginia and they include broken windshields under their comprehensive policies. And doesn't count against you claim wise.