Do you know what a deductible is? When you need to pay?

A tree branch falls on the roof of your car, and the repair bill is $1,500. If your deductible is $300, you’ll pay $300 to the repair shop and your insurer will pay the remaining $1,200. If your car is totalled or not worth repairing, your insurer may pay you the actual cash value of your car instead — in this case, your deductible would be subtracted from the total payout.

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