I just moved to Rockledge, Florida and purchased a new car. What is the difference between my collision deductible and comprehensive deductible?
The deductible is the amount you will pay out of your pocket if you have a loss and make a claim with your insurance company. For example if you submit a claim to your insurance company for a covered loss of $1,500 and your deductible is $500 your insurance company would deduct $500 from any amount they pay towards your claim. That amount would be your out of pocket cost.
Collision Deductible applies to losses from Impact that causes damage to your vehicle. For example, a collision with a vehicle, hit and run, etc.
Comprehensive Deductible is referred to as Other than Collision. Damage to your vehicle not caused by collision. For example, an animal that runs out into your vehicle, hail damage on the hood, etc.
Always refer to your individual policy for deductible amounts and coverage limits.
NOTE: The answers to coverage questions are primarily based on ISO forms generally used in Florida by most companies. However, please keep in mind that all companies forms are NOT necessarily the same. Some companies may provide broader coverage and some may be more restrictive. IN ALL CASES, THE CONSUMER MUST REFER TO HIS OR HER OWN POLICY FOR SPECIFIC COVERAGE INFORMATION.