By raising your deductible, your insurance company will lower your car insurance rate since you are taking over some of the burden, but be careful not to make a deductible so high that you can't afford it in the event of an accident.
If you wanted to buy a catastrophic plan only for your car insurance and you are disappointed to find out you can't, the best thing to do is to buy the required liability coverage while setting your deductible as high as you can.
Although it shouldn't be the reason why you are helping, sometimes miles logged to specifically work for the charity are tax deductible, so be sure to keep track of where you went, when and how many miles you put on the odometer.
While the cost of these policies vary depending on several factors--including driving history, deductible amount selected, and other factors--most motorcycle riders want to get the best coverage available for the lowest price.
In other words, if you want to have a $0 deductible, and have the insurance company be completely responsible for all claim costs, you will pay more every month than a policyholder who is willing to have a higher deductible.
The way to calculate the portion of the expense that is deductible for business purposes is as follows: Figure out the square footage of your home that is used for business purposes and the total square footage of your home.
State Farm also offers individual health insurance plans, including high deductible policies that can be combined with a Health Savings Account to pay for medical expenses until the annual deductible has been reached.
However, keep in mind that if you do try to increase your deductible as much as possible, you'll need to have enough cash on hand in the case of a major emergency so that you can actually pay for damages up to the amount of your deductible.
For example, if there is $400 worth of repairs needed for your car after an accident, and your deductible is $500, you are responsible for the full amount of the repairs because the total amount of the claim did not exceed the deductible.
The customer receives a $100 discount off the cost of his or her collision deductible when the policy is issued and a further $100 is taken off the deductible each year that the policyholder remains accident-free, up to a maximum of $500.