Diminishing insurance deductibles: imagine not having to pay an insurance deductible – and still being fully protected.
Sounds too good to be true, doesn’t it?
But, with our diminishing insurance deductibles, it can happen to you. This option eventually eliminates your deductible, and allows you to pocket the money instead.
How do diminishing insurance deductibles work?
With a diminishing deductible option, your insurance deductible decreases 25% each year you’re claim-free until your deductible hits zero. It applies to both your comprehensive and collision deductibles.
So, let’s say you have a $1000 insurance deductible. Your deductible will drop by $250 each year you don’t file a claim. After the fourth year, you won’t have to pay a deductible after you file a claim. But, you’ll still have the full protection your policy applies.
Depending on the size of your claim, that means you could save $1000 in deductible costs, and use the money for RV furniture, appliances, redecorating or anything you want.
Diminishing insurance deductibles are ideal for full time RV insurance.
Many RVers opt for higher deductible limits with their full time RV insurance policies to keep their premium payments lower. While this can be a smart strategy, it does mean more potential out-of-pocket costs if you file a claim.
However, with diminishing deductibles coverage, you can eliminate your out-of-pocket costs, and still enjoy the lower premiums associated with high-deductible policies.