What are “Fixed” and “Variable” deductibles?
Some US and Canadian banks, finance, and leasing companies require that deductibles be fixed meaning $500 for collision and $1000 for theft. GMAC requires that you purchase fixed deductibles combined with at least $100,000 in liability coverage. Most policies use a percentage of the value of the covered vehicle to calculate deductibles. Typically 2% of the vehicle value for collision claims, and 5% of the vehicle value for Theft claims. We offer a fixed deductible option through ACE Platinum. This means $500 for collision and $1,000 for theft, regardless of the value of the vehicle. 9. What is “Liability Only” Mexico Car Insurance coverage? “Liability Only” Coverage means: legal liability for injuries or death of persons not in your vehicle, property damage caused by your vehicle, medical expenses for you or other persons in your vehicle caused by a covered loss. All our Programs include guaranteed bond and legal aid assistance with each “liability only” policy. These services are avai
