I still check my coverage every year, just in case my situation changes... insurance companies definitely know we tend to play it safe.
Honestly, I’m the type who triple-checks the fine print every renewal. I get what you mean about “insurance companies definitely know we tend to play it safe”—they’re counting on it. Once had a fender bender and that deductible felt like a gut punch. It’s all a balancing act... save on premiums, but brace for the day when Murphy’s Law kicks in.
Once had a fender bender and that deductible felt like a gut punch.
Yeah, same here—one not-at-fault accident and my “cheap” plan suddenly didn’t feel so smart. Here’s what I’ve noticed:
- Higher premiums really sting when you’re labeled high-risk, but low deductibles can save your bacon after a claim.
- Insurance companies definitely bank on us sticking with what’s familiar, even if it’s not the best deal anymore.
- I always compare the actual out-of-pocket cost over a couple years, not just the monthly rate. Sometimes a higher premium actually works out better if you’re unlucky like me.
- Fine print is where they get you... those little exclusions and surcharges sneak up fast.
It’s a headache, but reading everything closely is the only way I’ve avoided getting burned more than once.
Honestly, I get where you’re coming from, but I’m not totally convinced that low deductibles are always the way to go, even for us “high-risk” folks.
Maybe, but if you don’t end up filing a claim, you’re just handing over more cash every month for nothing. I’ve had years where I paid extra for a low deductible and never used it—felt like I was just burning money. Guess it depends how much risk you’re willing to eat, but sometimes rolling the dice with a higher deductible isn’t as scary as it sounds.Sometimes a higher premium actually works out better if you’re unlucky like me.
Maybe, but if you don’t end up filing a claim, you’re just handing over more cash every month for nothing. I’ve had years where I paid extra for a low deductible and never used it—felt like I was just burning money.
I totally get that feeling—nobody likes watching their money disappear into thin air, especially when nothing happens. But here’s the thing: it’s not just about whether you file a claim or not. For me, the peace of mind is worth something too. I’ve had a couple of years where a random fender bender or hailstorm would’ve wiped out my savings if I’d gone with a higher deductible. Sure, most years I “lose” by paying more, but the one time something goes wrong, I’m not scrambling to come up with $1,500 out of nowhere.
I guess it comes down to how much risk you can stomach. If you’ve got an emergency fund sitting there, maybe rolling the dice makes sense. But if you’re like me and prefer to play it safe (maybe too safe sometimes), those higher premiums feel like insurance against disaster... literally and figuratively. It’s not thrilling, but neither is getting caught off guard by a big bill.
Honestly, I get wanting peace of mind, but isn’t that what an emergency fund is for? If you’re just paying extra every year “just in case,” aren’t you basically betting against yourself? I’d rather save the cash and take my chances. Maybe I’m too much of a gambler, but those higher premiums add up fast.
