Many states, including Maryland, require drivers to have auto insurance. Since car accidents are unpredictable and recovery costs can be high, having insurance is crucial. The right policy can prevent you from bearing substantial financial burdens after an accident.

How Do Auto Deductibles Work?

Auto deductibles represent the amount you agree to pay out of pocket before your insurance kicks in to cover the remaining expenses.

The most common types of car insurance with deductibles are comprehensive coverage, collision coverage, personal injury protection coverage and uninsured/underinsured motorist coverage. You may have the option of choosing or adjusting your deductible amount when you purchase the policy. Generally, higher deductibles result in lower monthly premiums and vice versa.

Deductibles are paid on a per-claim basis. For instance, you can file a collision claim with your insurer if a driver hits you. After paying the deductible, you may receive a reimbursement check from the insurance company and can then take your car to the auto repair shop.

How Much Auto Insurance Do I Need?

Determining the appropriate level of auto insurance involves assessing various factors, such as the following:

• Your driving habits
• Vehicle value
• Risk tolerance
• Financial situation
• Age and mileage of your vehicle

Speak with an insurance agent who can assess your needs and help you select the appropriate coverage levels. They can provide personalized recommendations based on your situation and budget.

Contact Us

Don’t let an accident catch you unprepared. Contact Waymon Lynch & Associates Inc. today to help you obtain the right auto insurance coverage.