Insurance Defined #5 - "Deductible"

Ryan from http://www.RyanHanley.com defines the term "Deductible"

Category:

Education

Tags:

• insurance
• business
• definitions
• deductible

[ryanhanley13]

I can understand your frustration. I seriously can... All I will say is make sure that Vanishing Deductible isn't baked into your yearly premium... Otherwise it sounds like a good deal to me.

[friscoway415]

yea i don't know much about insurance laws, but if i have been paying 5 years without any accident it is unfair to charge deductible when the insurer never had to pay a pennie the whole 5 years.

[ryanhanley13]

@friscoway415 Thanks for the comment! Why is it unfair?

[friscoway415]

@ryanhanley13 Because I give the company more than the deductible, without even have a single accident or claim, so, where is the money I gave them. Now I understand what would hapened if I crashed the vehicle after 2 weeks of getting the policy. I think (without reading the fine print) nationwide is understanding this matter.