A Single Deductible endorsement is a free, automatic addition to your policy that protects you if you're in an accident that involves multiple deductibles. A deductible is used for Physical Damage insurance. The deductible is the amount that you agree to pay out of pocket if you ever have a claim.
Normally, if you have a claim for an accident that involved multiple deductibles, you would pay each deductible. With a Single Deductible endorsement, however, you only pay the highest deductible listed for any one auto on the policy. We cover the rest.
Because you don't have to pay for the additional deductibles, you save money. After all, an accident is difficult enough without having to worry about paying for several deductibles.
Who Needs a Single Deductible Endorsement?
The Single Deductible endorsement is a free feature that you automatically receive with your Progressive Commercial auto insurance policy.
This insurance is for you if you regularly haul a trailer or other attached equipment. In an instance where both your vehicle and trailer are damaged, the Single Deductible endorsement will allow you to pay just one deductible instead of multiple deductibles.
A Single Deductible endorsement will also protect you if you have multiple vehicles damaged in a single catastrophic event such as a hurricane. Instead of paying multiple deductibles, you pay only one.
Deductible Amounts and Other Details
A deductible is the amount that you agree to pay out of pocket when you have a claim. If you have a tractor and a trailer on your policy, you must select deductibles for each of them.
The Single Deductible endorsement applies to Physical Damage insurance, which includes Comprehensive insurance, Collision insurance and Fire and Theft with Combined Additional Coverage insurance.
Please visit the specific insurance coverage pages to learn more about them and how deductibles apply to them.
Single Deductible Endorsement Example
Your tractor and trailer flip over during an accident, damaging both the tractor and the trailer.
If you have a $1,000 deductible for Collision insurance for the tractor and a $500 deductible for Collision insurance for the trailer, you typically would have to pay the total amount of $1,500 for both deductibles out of pocket to repair or replace your tractor and trailer. Your insurance would then pay the remainder.
With a Single Deductible endorsement, however, you only pay the higher of the two deductibles — in this case the $1,000 — toward the repairs or replacement of the tractor and trailer. Your insurance covers the rest.
Exceptions and Restrictions
The Single Deductible endorsement is a free benefit automatically provided to all Progressive Commercial auto insurance policies.
The Single Deductible endorsement is not available in all states or situations. Contact us to learn more.