Auto Insurance Deductible Waiver
What is a collision deductible waiver sadly studies reveal that as many as 16 out of every 100 drivers are currently uninsured which doesnt even scrape the surface of the risk you take every time you get behind the wheel of your car.
Auto insurance deductible waiver. For example if you total your car your insurer will give you a payment for the vehicles current value minus your deductible. Unlike health insurance there are no annual deductibles to meet when it comes to auto insurance. Typically if you are in a car accident where the at fault motorist is uninsured you have to use your. Youre responsible for your policys stated deductible each time you file a claim.
How ma auto insurance deductibles work. That first portion is called a deductible. There is an option for a waiver of deductible. If you have your home and your auto insurance policies with different carriers a waiver of deductible policy is a good reason to consider combining your coverage with one company.
The california collision deductible waiver cdw is coverage which waives your collision deductible if you are hit by a negligent uninsured motorist. Sometimes deductibles can be waived on an auto insurance policy but it is not always clear when this is an option. Sometimes the auto body shop will waive the self insurance and sometimes insurance policies have scenarios waivers where deductibles do not apply. You may have a waiver on your policy and not even know it.
The cdw option with a personal auto insurance policy in california pays your collision deductible when you carry collision coverage on a vehicle that is damaged by an uninsured or hit and run motorist who is at fault. When youre ready to shop contact your independent insurance agent for guidance on the best combination of coverage value and price. Now that you know more about how deductibles work get a free car insurance quote from geico today. When you originally bought your car insurance policy you will have agreed to pay the first portion of the claim usually somewhere between 100 1000.
So if you have 300 of damage and a 500 deductible you must pay the entire 300 yourself since it is below the deductible amount. Check with your insurance representative to verify what deductibles apply. This means that it will pay your collision deductible if your car is damaged in an accident with an uninsured driver. Check your state reference page for more information.
You also need to factor in drivers who may be considered underinsured which means they have car insurancejust not enough for. If youre in an accident your insurance company will use your collision coverage to repair your car. A collision deductible waiver also known as cdw or collision waiver of deductible is an add on you can buy for collision coverage. A collision deductible waiver or cdw also known as a collision waiver of deductible is coverage you can buy as part of your car insurance policy that will pay your collision deductible if your insured vehicle is damaged in an accident and the person liable is an uninsured driver.