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Check your deductible and consider changing it. Many of us have been in a situation where we have put a dent in a car or caused some other minor damage and decided NOT to make the claim. We decided that given the deductible we would pay and the impact a claim would have on our policy, better not to involve the insurance company and just pay for the repair.

I am not suggesting that you delay making a claim or contacting your insurance company if you are in an accident. I am suggesting that you look at your deductible and consider its value. If you dent your car and the repair will cost $700 and you have $500 deductible then you may choose to pay out of pocket for the repair. I recently made a similar decision and realized then that, for this reason, a $1,000 deductible might make more sense and save me money.

Insurance policies are tricky contracts. Take the time to know what you are buying. If you have questions, call us at Abrams Landau, Ltd. Once an accident occurs, it’s too late to decide whether your policy is all you need. If you have questions, then give us a call. We’re here to help.

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