What Is a Deductible?
A deductible is the portion of a claim the insured individual is responsible for paying before an insurance company covers all remaining costs. Once the deductible is met, the insured will pay nothing.
What Is a Deductible?
According to the Insurance Information Institute, “A deductible is the amount of money you pay out of pocket before your insurance coverage kicks in.” For example, if you have a health insurance policy with a $1,000 deductible, you must pay $1,000 toward covered medical expenses before your insurance begins to pay for any remaining costs. Deductibles can vary widely based on the type of insurance policy and the terms agreed upon by the insurer and policyholder.
Deductibles are typical in many insurance policies, including health, auto, and home insurance. The primary purpose of a deductible is to share the risk between the insurer and the insured. By requiring the insured to pay a portion of the costs, insurance companies encourage policyholders to avoid making small or unnecessary claims in an attempt to lower overall insurance costs.
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What Should I Do If I Am Involved in Lyft Car Accident? or Hit by an Uber Driver?
If your car is hit by an Uber driver or you are involved n a Lyft car accident, you may be able to collect damages, especially if you were injured. In general, it will largely depend if the driver was “on the clock” when they hit you, or if they were driving as an individual. This will determine who is responsible for your losses.
If you were involved in an accident with a Uber, Lyft or another rideshare driver, the car accident attorneys at Munley Law Personal Injury Attorneys can help you through the legal process.
What You Need to Know About Uber or Lyft Car Accidents
Who you can take legal action against following a car accident involving a rideshare driver will depend if the rideshare driver was logged into the app and working, or already off the clock. […]
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Pennsylvania Car Insurance Requirements
If you suffer a car crash in Pennsylvania, the right car insurance can make all the difference
Follow these tips from the nation’s leading car and truck accident lawyers
In truth, nobody wants to think that they will ever crash their car. We all think it can’t happen to us. However, the Centers for Disease Control & Prevention (CDC) reports that there are 6 million motor-vehicle accidents in the United States every year. Of that 6 million crashes, 3 million Americans suffer serious injuries. Over 36,000 drivers and passengers die each year. Pennsylvania drivers must carry car insurance by law. However, choosing the right auto insurance is a whole separate matter. In the event of a catastrophic automotive crash, the right auto insurance can make all of the difference. To help you choose the type fo car insurance that is right for you, […]
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7 Ways to Fast-Track Your Sandy Insurance Claim
Claim your insurance protection for damage done by Hurricane Sandy
In the wake of Hurricane Sandy, thousands of Pennsylvanians are filing insurance claims under homeowners, auto, health and even life insurance policies.
Many will face long waits and daunting paperwork.
Some insurance slowdowns are inevitable following a disaster of Sandy’s proportions. Damage estimates range from $7 billion to $50 billion, according to the Wall Street Journal.
But by taking a few simple steps Pennsylvania residents can improve the odds of their claims getting fast-tracked for approval:
- Do your homework. Take pictures or video of the damage. Before-and-after photographs, purchase records and contractor estimates for repairs are especially valuable.
- Hurry up and file your claim. “Experts say that many homeowners hesitate because they aren’t really sure if they have enough damage to merit a claim—or at least a claim that is more than the value of the policy’s deductible,” the Wall Street Journal reported. […]
