What does a 500 dollar deductible mean for car insurance?

What does a 500 dollar deductible mean for car insurance?

But what is a deductible? A car insurance deductible is the amount of money you have to pay toward repairs before your insurance covers the rest.. For example, if you’re in an accident that causes $3,000 worth of damage to your car and your deductible is $500, you will only have to pay $500 toward the repair.