Category: Auto Insurance

At Capalbo Insurance Group LLC in South Kingstown, RI, we understand that one of the most important decisions you will make when purchasing a new auto insurance policy is the deductible amount you select.

What is the Deductible?

An auto insurance deductible is the out-of-pocket amount you agree to pay before insurance will pay the rest of your accident claim. It is your share of the financial responsibility for an auto accident. Typically, comprehensive and collision coverages are the standard car insurance coverages requiring a deductible before insurance will pay the claim. You could also see a deductible if you have uninsured/underinsured motorist coverage.

Comprehensive and collision deductibles could vary from as low as $250 to as high as $2500 or more. Deductible amounts vary by insurance company. So, what deductible will work best for you? Let’s take a look at the pros and cons of different deductibles.

Lower Deductibles

Pros:

Lower auto insurance deductibles mean your financial responsibility will be minimal in the event of a claim. It gives you greater peace of mind that if you must file a claim, you are not likely to break the bank to pay your part and get your car repaired.

Cons:

Lower deductibles mean higher insurance premium payments. While you benefit from paying less for a claim, you pay a premium for that luxury. Another thing to consider is the potential to spend more money over time, especially if you rarely report a claim.

Higher Deductibles

Pros:

Higher deductibles mean lower premium payments on your insurance policy, putting more money in your pocket now. This can be very helpful if you have a tight budget and need to save cash.

Even when filing a claim, you could save money long-term with a higher deductible.

Cons:

A higher deductible means you have higher out-of-pocket costs when filing a claim. The increased financial responsibility can be challenging if you are already on a tight budget. Additionally, many lienholders are reluctant to finance customers with higher deductibles. They believe that carrying a higher deductible is impractical. They fear such a large amount of financial responsibility will incur a hardship for you, resulting in the vehicle not being repaired and reluctance to repay the loan.

We Can Help You Make The Right Choice

At Capalbo Insurance Group LLC in South Kingstown, RI, we will help you review your insurance history, discuss your financial situation, and other unique circumstances to help you choose the right auto insurance deductible. Call us today at (401) 268-3000.

It is said there are two kinds of drivers in the world: those who anticipate an accident at some point and those who confidently believe they’ll never have one. Nevertheless, a common thread weaves through these two distinct drivers—they both understand the crucial necessity of auto insurance, though for different reasons. If you reside in South Kingston, RI, the seasoned and hospitable team at Capalbo Insurance Group LLC has you covered with reliable auto insurance solutions.

Insurance for all Driver Types

There are those who drive with the firm expectation that an accident is an inevitable eventuality—these drivers seek auto insurance for the anticipated unexpected. On the other hand, there are those who opt for insurance for the ‘just-in-case,’ one-in-a-million chance of being in an accident. Regardless of the camp they belong to, such drivers grasp the steep expenses a car accident can incur, and the financial relief insurance can provide.

Insurance Solutions for All Accident Types

The reality is neither of these driver types is absolutely correct or incorrect. How secure a driver we are doesn’t provide an accurate prediction of whether we’ll end up in an accident. Similarly, car accidents can occur even when we are not behind the wheel, such as a tree falling onto your parked car.

Whether you anticipate an accident or not, costs will be incurred for repairs and damages when one occurs. Regardless of your expectations, accidents cost. Here’s where the committed team at Capalbo Insurance Group LLC can make a significant difference.

If you’re looking for auto insurance solutions in the South Kingston, RI area, contact us today. Ride with the assurance that your coverage meets your expectations, whatever they may be.

Like most states, Rhode Island has a mandate about what type and amount of auto insurance you must have, at a minimum, to be legal to drive on the roads in the state.  At Capalbo Insurance Group LLC in South Kingstown, RI, we take our responsibility to our customers seriously. We make sure the auto insurance you have fits your needs and gives you adequate protection. 

Basic auto insurance in Rhode Island

Basic auto insurance in Rhode Island is 25/50/25. This is all liability coverage, and it protects other drivers from you in an accident. It provides $25,000 for injuries to one person, $50,000 for all injuries in an accident, and $25,000 for personal property. 

Why basic insurance might not be the right choice?

If you have an auto loan or are leasing a vehicle, you will not be able to get away with having basic auto insurance. The bank or the leasing company will require that you have complete auto insurance coverage to protect your vehicle. But what about if you don’t have a loan or a lease? Is basic insurance the right choice?

If you have an older vehicle with little value or you have access to another vehicle, then basic auto insurance is right for you. For the rest of us who count on our vehicle every day to get to work, take the kids to school, go shopping, and to the doctor, protecting our vehicle is vital. 

Beyond Basic

Collision coverage covers your vehicle when you are at fault in an accident. Comprehensive coverage provides protection from theft, vandalism, and many things that can cause damage. If you need your vehicle every day, you need this coverage to protect it. 

Consult With Us

Contact Capalbo Insurance Group LLC in South Kingstown, RI when you are ready to discuss auto insurance. We are here for you when you need us.