Delaney Simchuk, Car Insurance Writer
@delaney_simchuk
A full coverage car insurance policy can have a $500 deductible, but you will generally have options ranging from $100 to $2,500. When purchasing a full coverage car insurance plan, you will choose a deductible for each component that uses one, including collision and comprehensive insurance.
Common Deductibles for Parts of Full Coverage Policies
| Type of Coverage | Common Deductible |
| $500 | |
| $500 | |
| $500 | |
| $250 | |
| $250 |
A full coverage policy typically includes at least the minimum insurance coverage required by state law as well as additional forms of coverage such as collision insurance and comprehensive insurance. You will need to choose a deductible for various parts of your full coverage policy. For instance, you may need to choose a deductible specific to personal injury protection, which can be a different amount than your collision insurance deductible. However, not every component of your full coverage policy will require a deductible. Liability insurance, for example, does not need a deductible.
A deductible is the amount of money you have to pay out of pocket for an accident before your insurance company will pay for the rest, up to your policy limit. So, a $500 deductible means you are required to pay $500 before your insurance company will cover the rest of the claim. A $500 deductible is a common choice because it is an easier amount to pay out of pocket than a $1,000 deductible, and it allows for cheaper monthly premiums than a $250 deductible.
To learn more, check out WalletHub’s guide to car insurance deductibles.
People also ask
Is a $500 deductible good for car insurance?
Yes, a $500 deductible is good for car insurance since it is one of the most common deductible amounts. A $500 deductible is often chosen because it is high enough to keep monthly premiums down while still being a relatively affordable amount to pay out of pocket in the event of a claim.
Car Insurance Deductibles by Coverage Type
| Coverage Type | Typical Deductible | ... |
Do points stay on your license forever?
No, points do not stay on your license forever in most states. Most driver’s license points will fall off your record after 3-5 years, depending on your state’s laws and the severity of the violation the points are associated with. However, in some states, the violation itself may remain on your driving record forever even if the points associated with the violation stop negatively affecting you.
Factors That Affect How Long Points Stay on Your...
read full answerDid we answer your question?