What is a deductible?

Your car insurance deductible is the amount of money you have to pay if something happens to your car before your insurance kicks in, after a covered event. For example, if your car needs $1,500 in repairs and your policy has a $500 deductible, then you are responsible for $500 and your insurance covers the remaining $1,000. If you never repair the vehicle, then you won’t have to pay anything.