How to Use Your Insurance Deductible to Save Money
Everyone has to save money somehow. One way to do that is by using your insurance deductible. This is the amount of money you're allowed to spend out-of-pocket before your insurance kicks in. By taking advantage of your insurance deductible, you can save money on your premiums and receive additional benefits, like free treatment or discounts on your policy. SAVING MONEY WITH DEDUCTIBLES If you're like most people, you probably use your insurance deductible to save money on your monthly premiums. By understanding how deductibles work and using them to your advantage, you can save big bucks on your insurance bill. Here's how it works: Your insurance company sets a deductible – a percentage of the cost of the claim – that you must pay before they will cover any of the costs associated with your claim. If you have a high-deductible policy, for example, you might only have to pay the first $200 of a $5,000 claim before your insurance company covers the rest. There are a few