@BrokerBrandon Yeah, but if his car is worth $10k, a deductible that high makes the coverage pointless. He won’t get anything if it’s totaled, so it’s like throwing money away.
@BrokerBrandon There’s no deductible for liability claims.
The problem is that they can’t pay until they know what the total damage is for everyone involved. Using your own insurance is your best bet to get the ball rolling. Otherwise, the high deductible you picked is really making your insurance useless for fixing your car.
@Mickey Yeah, all of this could have been summed up with ‘limits issue.’ That covers all the questions you have.
I don’t think there’s a way to speed this up. With multiple cars involved and low limits, you might end up with less money than you need to fix your car. Using your own insurance would be the fastest way, but you’ve got that deductible issue.
You might end up waiting and still need to use your own insurance if the limit doesn’t cover everything. I’d find a way to pay the deductible now and start the claim. If your car is totaled, the deductible just gets subtracted from the payout.
@nanciey It might be totaled. The car technically drives, but it looks bad and probably isn’t safe. I can’t afford the $10k deductible without taking a loan, which would cost me even more in the long run.
@Jermaine I’ve never seen a $10k deductible on a personal car policy. What does it say next to the collision section on your insurance card?
@nanciey No way, you must be looking at the wrong thing.
@nanciey No, it’s really $10k. I switched it back because this is just too much. It was only $10k for about two months.
@Jermaine Why did you have a $10,000 deductible on a car worth that much? I’ve only seen something like that twice in my entire career.
@Terryann I’ve worked in insurance for years and never seen anything like that. I’m floored.
@Terryann I did it to try to lower my insurance because it kept going up despite no accidents. It jumped from $130 to over $200 a month, so I thought this would help.
@Terryann So a $70 difference that would have taken you 143 months to save $10,000 in premiums.
@Terryann Yeah, I figured I wouldn’t get into an accident, and if I did, the other person’s insurance would pay. What I didn’t expect was that their insurance would make me wait this long.
@Jermaine I’ve worked in insurance a long time and never seen a $10k deductible. Why even have collision coverage at that point?
$20k isn’t a lot for repairs to three cars. Cars are expensive to fix, especially with new tech. You can either wait or file a claim with your own insurance. But if you can’t afford the deductible, it seems like you set it too high.
@Jony Wouldn’t the $20k limit only cover the damaged cars, not the driver at fault?
@Jony Yes, but $20k is low. It covers damage to the cars, rental cars, towing, and storage fees.
@Jony I borrowed my parents’ car, so I’m not paying for a rental. I drove the damaged car home and kept it in the garage. Trying to keep costs low, but maybe I’m wasting time.