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Understanding Car Insurance Deductibles

Driveguard helps you navigate the complexities of car insurance terms and conditions, focusing on deductibles and how they affect your coverage.

What is a Deductible?

A deductible is the amount you agree to pay out of pocket before your insurance coverage kicks in. It's a crucial component of your car insurance policy that can significantly impact your premiums and claims process.

Key Points:

  • Higher deductibles generally mean lower premiums
  • Deductibles apply per claim, not per policy period
  • Choose a deductible you can comfortably afford

How Deductibles Work

Choosing the Right Deductible

Selecting the appropriate deductible involves balancing your budget with your risk tolerance. Consider these factors:

  • Your financial situation
  • The value of your vehicle
  • Your driving history
  • Your risk tolerance

Deductible Impact on Premiums

Deductible Est. Annual Premium
$250 $1,200
$500 $1,000
$1,000 $850

Need Help Understanding Your Options?

Our Canadian office is here to assist you in navigating car insurance terms and conditions. Contact us for personalized guidance on choosing the right deductible for your needs.

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Graph showing car insurance rate trends across Canadian provinces, with line charts for each province and a legend indicating different colors for each region
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