Beware "Vanishing Deductibles" In Car Insurance

Beware "Vanishing Deductibles" In Car Insurance

Some insurance agencies are enticing customers by offering “vanishing deductibles” on car insurance policies. Purportedly meant to encourage safe driving, the plans take, say, $100 off customers’ deductibles for each year they don’t file a claim. For example, if a customer’s deductible starts off at $500 and five years pass without a claim being filed, the deductible vanishes completely and the customer doesn’t have to pay anything when he finally files a claim. [More]