Insurance
How Insurance Deductibles Work
Imagine buying a smartphone with insurance. Accidents happen, and suddenly your precious device slips out of your hand, resulting in a cracked screen. You breathe a sigh of relief, recalling that insurance has your back. But when you file a claim, you're introduced to a fundamental aspect of every insurance policy: the deductible. What exactly is it, and how does it impact you? Let's dive deep into understanding insurance deductibles, exploring how they work, why they exist, and what you need to know to make informed decisions.
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