I own a $500 reductible? does this mingy the insurance company reward this subsidise to me after an luck?
Do you indicate deductible? That is the amount that you have to wages out of pocket before the Insurance company pays anything.
It money you pay $500 and they cover the rest.
It mode that you are responsible for paying the first $500 and the insurance company will pay the rest. Ie: You're sports car gets a mark or dent, you'll pay $500 towards the repairs and the insurance company will salary the rest if required. It means you rate $500 out of pocket and anything beyond that is covered by the insurance company.
So if prejudice to your car is $1500 afterwards you pay $500 and the insurance company pays $1000.
Answers: No. A deductible is the amount out of your pocket, before your insurance kick in.
I believe that you stingy Deductible. A deductible is what you pay first past the insurance company starts to pay. you close-fisted a deductible? That means you are responsible for $500.00 out of your pocket when have an accident, the rest the insurance pays.