What is a deductible?
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The deductible is your responsibility for any covered loss to the bicycle. If your deductible is $200 and your bicycle has $2,000 in covered damages, your policy would pay $1,800 with the $200 deductible automatically subtracted from the total claim payout. You choose the amount when you set up the policy, and the deductible is applied to each and every loss.
When the damage to your bike is less than the deductible, forgo the claim and simply pay for the repair out-of-pocket.
How do I choose the right deductible?
Pick an amount you are comfortable paying out of pocket: the higher the deductible, the lower your premium, and the larger your share of each claim. Adjusting the deductible during a quote shows the effect on the premium immediately, so you can settle on the balance you want before you buy. The full pricing picture is in how your premium is calculated.
How does the deductible work at claim time?
One deductible applies to each covered loss and is subtracted from the reimbursement. On a total loss, you receive the declared value of your bike minus the deductible, with no depreciation for age; the details are in how a total loss payout works. For a repair that costs about the same as the deductible or less, forgoing the claim and paying the shop directly is the practical move.
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