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Old 06-24-2015, 09:03 AM   #1
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Auto Insurance Deductible Notation Auto Insurance Deductible Notation
Hi,

I have a (newbie) question about Auto Insurance Comprehensive/Collision Deductible.
Have been shopping for Auto Insurance recently, and have noticed that Comprehensive/Collision Deductible are mentioned in two forms:
  1. Dollar Amount like: $500 or $1000
  2. Ratio like 1:500 or 1:1000

Have googl'ed around but was unable to find an answer.
Could someone tell if there is any difference between the two ?

Thank you..
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Old 06-24-2015, 11:53 PM   #2
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Auto Insurance Deductible Notation
Originally Posted by cool.aquarian View Post
Hi, I have a (newbie) question about Auto Insurance Comprehensive/Collision Deductible. Have been shopping for Auto Insurance recently, and have noticed that Comprehensive/Collision Deductible are mentioned in two forms:[*]Dollar Amount like: $500 or $1000[*]Ratio like 1:500 or 1:1000 Have googl'ed around but was unable to find an answer. Could someone tell if there is any difference between the two ? Thank you..
Not sure where or what youre looking at but it should always be dollar amount.
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Old 06-25-2015, 09:04 AM   #3
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Auto Insurance Deductible Notation Re: Auto Insurance Deductible Notation cool.aquarian is the thread starter for: Auto Insurance Deductible Notation

Attaching screenshot(AutoInsurance_Limits.png) of the Insurance Quote I received with this post.
Hoping this helps in understanding my question.
Attached Images
File Type: png AutoInsurance_Limits.png (181.5 KB, 25 views)
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Old 06-25-2015, 11:05 AM   #4
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Auto Insurance Deductible Notation Re: Auto Insurance Deductible Notation
I'm pretty sure they mean the deductible per each occurrence. Unlike healthcare, its not an annual deductible. Its a strange way to show it, but they are trying to make a point.

In general, assuming I'm reading this right, if you rear-end someone, panic, backup and back into someone, that is 2 occurrences, or, 2 accidents. You would pay the deductible for each one of them.

Dan
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Old 06-25-2015, 04:41 PM   #5
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Auto Insurance Deductible Notation
Do you have more than one vehicle on policy? Could be referencing vehicle 1 of several on the quote. It is very shorthand if that's what it is but I've seen companies do this in all sorts of different ways.

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DJS makes a good point too though.
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Old 06-27-2015, 06:25 AM   #6
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Auto Insurance Deductible Notation Re: Auto Insurance Deductible Notation
Originally Posted by cool.aquarian View Post
Hi,
...
Have been shopping for Auto Insurance recently, and have noticed that Comprehensive/Collision Deductible are mentioned in two forms:
...Have googl'ed around but was unable to find an answer.
Could someone tell if there is any difference between the two ?

Thank you..

How did your agent explain it to you?
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