I get where you’re coming from, but I actually see it a bit differently, especially with family cars. You mentioned,
That’s been my experience too, but I’d argue it’s even less worth it for older vehicles. Once my minivan hit the 10-year mark, I ran the numbers and realized the premium drop for raising my deductible was barely noticeable—like, maybe $7 a month. Meanwhile, if something happened and I had to cough up $1,000 all at once? That’d sting way more than the tiny monthly savings.“if you drive an older car, sometimes the savings from a high deductible aren’t that huge anyway.”
I guess it comes down to how likely you are to actually use your insurance. With kids and carpools, minor fender benders aren’t exactly rare in my world. For me, keeping a lower deductible just makes more sense financially and mentally. I’d rather pay a little extra each month than risk a big hit when I least expect it. Maybe that’s just my risk-averse side talking, but peace of mind is worth something too.
I get where you’re coming from, but I actually don’t mind a higher deductible for older cars. For me, if the car’s not worth much, I’m not even sure I’d bother filing a claim for minor stuff—sometimes the repair cost is close to the deductible anyway. Plus, with how rarely I’ve needed to use insurance (knock on wood), I’d rather pocket the savings, even if it’s not a huge amount. Maybe I’m just more willing to roll the dice, but I kind of see it as paying less for something I hope I never use.
Had a similar mindset when my old Civic was on its last legs. I bumped the deductible up and barely noticed the premium drop, but at least it felt like I wasn’t overpaying for something I’d probably never use. The one time a neighbor’s kid dinged my door, the repair was actually less than my deductible, so I just paid out of pocket. Guess it really depends on how much risk you’re cool with, but I get the logic.
Deductibles Are a Gamble, But Sometimes Worth It
Guess it really depends on how much risk you’re cool with, but I get the logic.
That’s pretty much where I landed too. My last car was a 2008 Corolla that had seen better days—paint was fading, AC barely worked, and the stereo only played CDs (which I weirdly miss now). I remember staring at my insurance renewal and thinking, “Am I really gonna pay extra for low deductibles on a car that’s probably worth less than my phone?” Ended up cranking the deductible way up. The premium savings weren’t huge, but it felt like less of a waste.
Funny thing is, I drive a ton for work—like, 60 miles round trip every day—so you’d think I’d want more coverage. But after years of never making a claim, it just seemed silly to keep paying for something I never used. Of course, the week after I upped the deductible, some genius in a parking lot left me a nice mystery dent. Classic.
I do wonder sometimes if it’s just luck though. Like, am I tempting fate by rolling the dice? Or is it just that most of these little dings and scratches aren’t worth claiming anyway? The one time I did get rear-ended (not my fault), their insurance covered everything and mine didn’t even come into play.
I guess if you’re driving something new or expensive, it’s a different story. But for older cars? High deductible seems like the way to go unless you’re super unlucky or live somewhere with wild hailstorms or whatever. Still, every time I see a new chip in my windshield, I get this tiny pang of regret... then remember how much I’m saving each month and shrug it off.
Insurance always feels like this weird bet against yourself. You hope you never need it, but if you do... well, that’s when you find out if your gamble paid off or not.
Honestly, I get where you’re coming from, but sometimes folks underestimate how much even a minor accident can cost out of pocket with a high deductible. I’ve seen people regret it when a cracked windshield turns into a $900 bill. The monthly savings are nice, but if you’re driving a lot—like your 60-mile commute—the odds of something happening do go up. It’s not always just about the car’s value; sometimes it’s about peace of mind too.
