Posted on: 17-01-09 18:20:57
Hi all...
I have concern about auto insurance term "Deductible".
If a person have $500 deductible in polocy, suppose he involve in accident without fault. Let us say his car has cost of repair $2000. What insurance company has to pay $2000 or $1500????
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AB
This should help you understand the term: http://en.wikipedia.org/wiki/Deductible
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If you have a gun, you can rob a bank.
If you have a bank, you can rob everyone.
- Bill Maher
Quote:
Originally posted by ashish_8602
Hi all...
I have concern about auto insurance term "Deductible".
If a person have $500 deductible in polocy, suppose he involve in accident without fault. Let us say his car has cost of repair $2000. What insurance company has to pay $2000 or $1500????
As per my knowledge, if it is a '100% not at fault accident', then there is no deductible. The damage will be covered by the insurance company under the DCPD (Direct Compensation Property damage) coverage BUT it has to be 100% NOT AT FAULT and only the insurance company will decide that not the POLICE. If it is 50-50, then half of the deductible will be paid by the insured person.
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Sanjeev Manocha, MBA
Real Estate Sales Representative
Accredited Buyer Representative (ABR)
Re/Max West Realty Inc, Brokerage
96, Rexdale Blvd., Toronto
Mobile: 416-843-7600
Office: 416-745-2300
http://www.manocharealty.com" rel="nofollow">LINK
Thanks Sanjeev and blorean.
I am still arguing with insurance and she said exactly what Sanjeev has written. the person who hit my car is not reporting to his insurance company thats why my insurance company is waiting for reply. If i still have to pay withot fault dont you think its useless to have insurance. This is nothing but slap on me without any reason.
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AB
