Raising the deductible is definitely a smart move. I bumped mine up a couple years ago, and it made a noticeable difference in my monthly payments. Sure, it's a bit of a gamble, but honestly, how often do you really file a claim? I've been commuting daily for years, and the peace of mind knowing I'm covered without paying crazy premiums is worth it. Murphy's Law is no joke though...better safe than sorry.
I get where you're coming from, but honestly, raising the deductible isn't always the best move for everyone. Last year, I had a minor fender bender (totally not my fault, btw), and having a lower deductible saved me from a big out-of-pocket hit. Sometimes peace of mind means paying a bit more monthly...just depends on your luck, I guess.
Good points there, but for me it boils down to a few practical things:
- How much emergency cash do you keep handy? If you're tight on savings, a lower deductible makes sense.
- What's your driving environment like? I commute daily through busy intersections, so even though I'm careful, accidents happen.
- Also, consider your car's value. Older cars might not justify higher monthly premiums.
Personally, I stick with a moderate deductible—balances monthly cost and peace of mind nicely.
You make some good points, but I'm still a bit unsure about the moderate deductible thing. As a newer driver, I'm thinking that even if my car isn't worth a ton, repairs can add up fast if something happens. Wouldn't it make sense to keep the deductible lower until you get more experience and confidence on the road? I mean, I get that monthly savings matter, but peace of mind seems pretty valuable too...
I see where you're coming from, but honestly, I'd still lean toward a moderate deductible even as a newer driver. Sure, peace of mind is important, but realistically, how often do you expect to file a claim? I've been driving for years now, and I can count on one hand the number of times I've actually needed repairs that exceeded my deductible. Most minor stuff—like scratches or small dents—you'll probably end up paying out-of-pocket anyway to avoid premium hikes.
Plus, if your car isn't worth much, a lower deductible might not even make financial sense. You could end up paying more in premiums over time than you'd ever save on repairs. Maybe instead of paying extra every month for a lower deductible, put that money aside into an emergency fund? That way you're covered either way and still saving cash in the long run.
Have you checked how much your premium actually changes between deductibles? Sometimes the difference isn't as big as you'd think...
