What are deductibles?

Deductibles are the amount of money you agree to pay in the event of an accident . Whenever you buy auto or other insurance, you should check the percentage of the deductible.

Whenever you have a high deductible , your insurance rates should be lower, because in the event of an accident you will have to pay more than the expenses that are generated.

On the contrary, if you have a low deductible , insurers will charge you a higher rate, because they promise to pay most of the expenses that are generated during an accident.

It should be noted that the deductibles in each type of insurance depends a lot on the company with whom you contract, that is why you should review the specifications of your policy very well before signing.

Take into account the exceptions and coverages so that in the event of an accident you are not surprised with extra expenses that you must pay or responsibilities that the insurer does not want to cover.