Insurance Deductible Explained

If you have insurance you probably know you have a deductible, but what does that mean? Almost all insurance policies; be it auto insurance, homeowners insurance, business & commerical or healthcare insurance, have some sort of deductible. In this video "Insurance Deductibles Explained" we talk about coinsurance (another term for deductibles), how they work and why your policy has them.

[HoeLeeSheet]

What's the point of having insurance if you still have to pay money so I pay for insurance just to pay money for something else makes sense.

[Gabrielluna]

When a driver pays, for example, $160 month for a full coverage insurance for a whole year or years and there aren't any accidents, where does all the money go? They will never give you a refund if you decided to cancel right? Even if there was an accident and your insurance company still makes you pay a deductible after years of paying high insurance, I believe that isn't right. Big scam.

[lomeinbullies]

Aka: make it confusing as possible so the customers don’t realize it’s a scam. “I can’t math right now you’re just going to have to trust me” should be the slogan of every insurance company paid co-pays and deductibles is just another way to disguise that they’ve been taking $150 a month from you for five years until you finally needed the insurance and out of all the tens of thousands of dollars you’ve paid them they can only offer you $1500 on a repair or healthcare 🖕🏼🖕🏼

[vLife]

if Gieco's site say estimate is ready but has this footnote "The estimated repair cost includes your deductible".. do I need to subtract my deductible to see what amount the check will be for?

[lindsayhengehold]

Having a low deductible for either your pet, health or property or car insurance is important.

[SunShine-kdtd]

The problem with insurance is, that the innocent party shouldn't have to pay ANYTHING. But they do when they get their car fixed and have to pay their deductible and wait to be reimbursed by the guilty party's insurance. What if they aren't even insured? It makes more sense for the insurance companies that we pay, to cover damages that aren't our fault and then sort it out with the guilty party and/or their insurance company. That's their job.

[miljannyjets]

Do I have to pay deductables if I wasn't at fault? Like if someone scratched my car?

[KrishKumar-ewjs]

Please explain it for me ...
Why insurance company needs to collect deductible when a member is already paying premium? What is the reason of it? ....

[keniamartinez]

Insurance is a scam, deductibles are ridiculously high, especially for healthcare, it is so discouraging.

[benjaminmesa]

So, my health insurance totals to about $6, 000 a year. My deductible is $3, 000. Explain to me why I have to pay that at all? It doesn’t really make sense at the end of the day. The doctors should be the ones who determine whether or not I am, “abusing” my insurance, not the insurer. Complete horse shite.

[kanyakornbrewer]

Try to listen but the sound music you put on made if difficult to listen !!