Auto Insurance Limits & Deductibles
Choosing an auto insurance policy that's right for you means taking into account what you'd like to cover, how much you'd like to pay for coverage and what you're willing to pay out-of-pocket if an accident occurs.
Your auto insurance limit of liability is the maximum amount your insurance will cover in the event of a claim. When you're deciding on a coverage limit you should know that the higher your limit of liability is, the higher the premium will be. However, if your limit of liability is too low, you will have to pay more out of pocket in the event of an accident.
How Low Can You Afford to Go?
While the primary reason for choosing Travelers is generally better coverage, we do understand that in tight times some customers may want to lower their coverage limits to bring their premiums down. Keeping in mind that each situation is unique, we recommend that you carefully weigh your budget against potential risks when selecting your coverages and limits. Our representatives will gladly help you through this process.
Your auto insurance deductible is the amount you have to pay out of pocket when you make a claim. Unlike limit of liability, generally, the higher your deductible, the lower your premium. When deciding what deductibles are right for you, you should determine how much money you are comfortable paying out of pocket in the event of an accident. In general, deductibles range from $250 to $1500. Begin your Travelers auto insurance quotes online to see what your deductible could be.
An Example of How Your Deductible Works: Let's say you are involved in a covered accident and your repairs cost $1,500. You've previously selected a $500 deductible. You would have to pay the first $500, and your auto insurance policy would cover the remaining $1,000 to repair your car and get you back on the road.
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The information on this site is general in nature. Any description of coverage is necessarily simplified. Whether a particular loss is covered depends on the specific facts and the provisions, exclusions and limits of the actual policy. Nothing on this site alters the terms or conditions of any of our policies. You should read the policy for a complete description of coverage. Coverage options, limits, discounts and deductibles are subject to individuals meeting our underwriting criteria and state availability.
Insurance is underwritten by The Travelers Indemnity Company and its property casualty affiliates, One Towers Square, Hartford, CT. For a complete list of personal insurance underwriting companies, click here.
