You’re a safe driver. You follow the law right down to buckling up and carrying auto insurance. You pay your premiums religiously. You want that policy in place should you ever have a need for it, however, you often wonder why you’re spending all this money yet not using any benefits. It’s really a catch-22. You’ve got to have the insurance, however, wouldn’t it be nice to be rewarded just for being a good customer and a safe driver? After all, you’re not costing your auto insurer anything by having to file claims. Now, you can reap the rewards of being a safe driver!
Introducing The Magically Vanishing Deductible
Ok. So it’s not really magic, but it sure feels like it! For every year that you go without having any accidents, maintaining a safer driver status with your insurance company, they will reduce you deductible by up to $100, most plans maxing out at a $500 deduction. Imagine it! When you signed up for you policy, you knew you would be obligated to pay so much out of pocket before your insurance company would pay any benefits. It comes with the territory of many kinds of insurance. Some people even pay a higher deductible for a lower monthly premium. Still, it seems like a lot of money to put out just to use those benefits if and when you need them.
Need to Know
The vanishing deductible is appealing. Few of the insured would ever think twice about accepting such a perk. However, it does not come standard with most auto insurance plans, therefore, you will have to sign up for the option. Do not expect to find it everywhere either. If this is a perk you want in your insurance plan, you might need to shop around. The idea has only recently been introduced and there’s just a few top companies offering the benefit. Shop around and ask for it. Maybe someday, the idea of the vanishing deductible will become more widespread, after all, everybody wins. Your insurance company saves money by your being a safe driver, and returns the favor by saving you some big bucks in the long run.
