Zero Dollar Deductible on Your Auto Glass Coverage is a Good Idea!
Posted by
Jodi Ruch on Tue, Oct 11, 2011 @ 09:34 AM
The odds are in your favor that you will need a windshield replacement in Minneapolis sometime in the next seven years, which is the number I have heard used as an average time between windshield replacements in the auto glass industry. Although seven years is believed to be the average, the needs of consumers vary. Some people will have a windshield replaced every year while others may replace their windshield every ten years. But if you happen to be at the wrong place, at the wrong time, one rock chip from a semi-truck could crack your windshield.
Years ago I was advised by an insurance agent to carry full collision (with a large deductible) and full glass coverage (with a zero dollar deductible) on my older vehicle. Often, consumers do not realize insurance companies may allow them to carry several different deductible levels. Many items factored into my auto insurance quote: age of the vehicle, vehicle value, desired coverage, and my driving record. Also, if I had a loan on the vehicle, the collision deductible could be subject to the loan agreement. After I did the math, I realized it was a better deal to carry full glass coverage with a zero dollar deductible because the odds were in my favor.
Recently, I spoke with an insurance agent to see if the zero deductible was sti
ll the better deal and here is what I learned about one particular insurance quote on my 2005 Camry: I have full collision and comprehensive insurance with $500 deductible and full glass coverage with a zero dollar deductible. I asked the insurance agent how much money I would save if I added a $500 deductible to the glass coverage as well. Adding a deductible to my full glass coverage would only save me $11.00 a year! In essence, it costs me less than $1.00/month to have a zero dollar deductible on auto glass coverage.
The odds are in my favor! Let’s do the math: 7 years x $11 = $77. If I have one claim in seven years, it’s a better to pay the higher premium. Actually, it would take me over 45 years at $11/year to reach the $500 deductible! I would not save with the $500 deductible. Now add the incidental accidents that break side windows such as: vandalism, baseballs, or thieves breaking into my car, and I am way ahead.
If you have a deductible on your glass coverage, you may want to talk to your insurance agent and investigate your options. Sometimes the windshield replacement costs less than the deductible leaving your glass coverage useless. Ask your insurance agent if your insurance company offers varied deductibles. Perhaps you already have a zero dollar deductible on glass and did not know it. You may discover the odds are in your favor too when you have a zero dollar auto glass deductible!