How Is The Deductible For Comprehensive Or Collision Coverage Applied?
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UPDATED: Jul 16, 2021
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You must pay the deductible amount before receiving money from the insurance company. In other words, the insurance company will deduct the deductible amount from any settlement. This means that if you have a $1,000 loss and your deductible amount is $400, the insurance company will pay you the amount in excess of the deductible, which is $600.