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Your auto insurance policy has a $200 monthly premium and $700 deductible. What is the maximum amount you will have to pay out-of-pocket for a car accident before your insurance covers your costs?

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Find out the what is the maximum amount you will have to pay out-of-pocket for a car accident before your insurance covers your costs .

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As given

Your auto insurance policy has a $200 monthly premium and $700 deductible.

Definition of Deductible

The deductible is the amount of money you will pay in an insurance claim before the insurance company starts paying you.

Therefore the maximum amount you will have to pay out-of-pocket for a car accident before your insurance covers your costs is $700.

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