What is the typical deductible range for physical damage coverage?

The typical deductible range for physical damage coverage falls between $400 and $2500, with many vehicles commonly set at around $700. This range is designed to balance the cost of premiums with the financial responsibility of the insured. A lower deductible often results in higher premiums, while a higher deductible typically lowers the premium. Setting a deductible at around $700 is seen as a practical compromise, as it is a manageable amount for many drivers in the event of a claim while still keeping premiums reasonable.

Other choices do not adequately capture the typical range for deductibles seen in practice. While some might suggest a specific amount, such as $500, or a broader range of $1000 to $3000, these do not reflect the more common deductible scenario in auto insurance. The chosen range reflects industry standards and practices, making it the most accurate option provided.