Curious if anyone’s actually switched back and forth and noticed a real difference in their wallet?
Had a guy last year who bumped his deductible way up to save on premiums, then—wouldn’t you know it—his roof got wrecked in a freak windstorm. He was kicking himself over the out-of-pocket cost, but when we looked at his savings over five years, he still came out ahead. It’s a gamble, honestly. Anyone ever regret going with the higher deductible after a claim, or did the math still work out for you?
Yeah, I’ve wrestled with this too. A few years back, I bumped my deductible up thinking I’d just drive extra careful. Then a deer had other plans... Cost me more out of pocket than I liked, but looking at the premium savings since then, it’s still balanced out. It stings in the moment, but over time? Usually works out—unless you’re just super unlucky.
That’s the gamble, right? Higher deductible means lower premiums, but if Murphy’s Law kicks in (or a deer does), you’re on the hook for more up front. I always tell folks to weigh how much “ouch” they can handle at once versus over time. Not everyone’s luck is the same...
That’s the gamble, right? Higher deductible means lower premiums, but if Murphy’s Law kicks in (or a deer does), you’re on the hook for more up front.
Yeah, that “Murphy’s Law” bit hits home. A couple years back, we bumped our deductible up to save a few bucks each month. Fast forward to last winter—my oldest borrowed the minivan and slid into a mailbox during an ice storm. Not a huge crash, but enough to make me wince when I saw the repair bill. Suddenly those savings didn’t feel so sweet.
I get the logic behind higher deductibles, and for a while it worked out for us. But honestly, with kids driving and all the random stuff that seems to happen around here, we ended up switching back to a lower deductible. The monthly premium stings a little more, but at least I don’t have to panic every time someone mentions “bad weather” or “road trip.”
Guess it really does come down to how much risk you can stomach at once. For us, peace of mind won out over saving a few bucks long term.
Guess it really does come down to how much risk you can stomach at once. For us, peace of mind won out over saving a few bucks long term.
That’s pretty much where I landed too. I tried the higher deductible route for a while, but every time the weather got sketchy or one of my kids needed the car, I’d get this knot in my stomach thinking about what could go wrong. Maybe it’s just me being overly cautious, but after one fender bender (wasn’t even our fault), the out-of-pocket hit just wasn’t worth the stress.
Honestly, I’d rather pay a bit more each month and not have to worry about getting blindsided by a big bill if something happens. Especially with teenagers behind the wheel—there’s just too much unpredictability. Saving money is great and all, but sometimes you’ve gotta weigh it against your own peace of mind. Sounds like you made the right call for your situation.
