Scenario: I pay X amount of dollars per month for car insurance. I have all 4 tires stolen from my vehicle overnight. I submit a claim with my insurance company to repair any damages. I now pay a **hefty** X amount of dollars for the event that has occurred.
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Primarily, to keep one from filing trivial claims. $1,000 deductible means you’re not going to file a claim for a $50 dent or a stolen hubcap.
Equally important to you, the insured, it keeps your cost down, because of reason 1.
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