Disappearing Deductible

The Morse Insurance team explains the ins and outs of Disappearing Deductible credits, a cost-saving auto insurance endorsement

There is a good chance that you’ve heard a commercial or two advertising Disappearing Deductible. Whether you’ve seen an ad while watching live TV or streaming the game on your Amazon Fire Stick or heard a catchy jingle on the radio while driving in your car, your interest may be piqued to learn more. So, if you are visiting us today wondering how Disappearing Deductible credits work, if it can really save you money, or if you qualify for the reward program, you’ve come to the right place.

The concept behind Disappearing Deductible credits is actually quite simple; it’s the finer details of each insurance carrier that makes things a bit more complicated. Generally speaking, if you decided to include a Disappearing Deductible as a part of your car insurance policy, your collision deductible would become less expensive after every year of safe driving. Or in other words, if you were involved in an accident, and your reward credits had already started to accrue, you can expect to pay less out of pocket for repairs because your deductible would be lower.

As your trusted insurance partner, Morse, of course, wants to make sure you understand more than just the concept behind this additional auto endorsement. So, before you choose to add it to your car insurance policy, there are a few things we think you should know and consider first.

How does a Disappearing Deductible work?

The Disappearing Deductible program was originally designed to incentivize drivers to obey the rules of the road as well as adhere to other safe driving behaviors in an effort to stop vehicular accidents from happening.

While the goals of a Disappearing Deductible program may be clear, every insurance carrier has its own unique twist on how their specific program works. The team at Morse is very knowledgeable in the various programs, as many of our highly-regarded insurance partners offer the incentive program. Therefore, we feel extremely confident in our ability to provide you with the specifics of your carriers program over the phone or during an in-person meeting at any one of our four convenient Massachusetts locations.

However, with that being said, there are a few general details about a Disappearing Deductible that we can clarify for you now to help you decide if the auto endorsement is right for you.

  1. Your deductible will decrease with every year of safe driving.
    Most Disappearing Deductible programs reward you for your clean driving record by offering you a financial credit, at annual renewal time, which can be applied to your collision deductible. Some carriers credit their policyholders with as much as $100 annually per policy, while others offer slightly less.
  2. You can expect to pay less out of pocket in the event of a crash.
    Once you’ve started earning your rewards, should you be involved in a car accident, you can likely expect to pay a lower deductible. However, regardless of who was found at fault for the accident, your insurance carrier will most likely not reward you come renewal time as a result of the claim.
  3. Disappearing Deductible credits come with a cost.
    If you opt to add this endorsement to your policy, you may pay a higher insurance premium. However, if you and your family own several cars, your carrier may offer additional savings if you add a Disappearing Deductible to each vehicle listed on your policy. In addition, the money you can potentially save by having a lower deductible after a crash can help you make up for the annual fee that you might need to pay for the reward program.

Who is eligible for a Disappearing Deductible?

The Disappearing Deductible program was specifically designed to reward safe drivers, much like Accident Forgiveness. But what does that mean exactly? If you have maintained a clean driving record for the last several years, you will likely be eligible to add this additional endorsement to your current auto policy. On the flip side, if you’ve been involved in a car accident in the past three years, regardless of who was at fault, you most likely will not be able to take advantage of a Disappearing Deductible program. However, to know for certain, you’ll want to discuss your options with an experienced insurance agent.

After reading this, if you have decided that a Disappearing Deductible endorsement is not right for you right now, we understand; however, there may be a variety of other cost-saving endorsements and discounts that you may be eligible for, including loan/lease gap coverage, bundle and save, good student, and more. Therefore, we would encourage you to give one of our friendly Morse Insurance agents a call to discuss.

And if you are interested in taking advantage of a Disappearing Deductible, learning more about the reward program or scheduling a complimentary policy review with an experienced member of our team, be sure to contact us today – we are here (and happy) to help!

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