HIGHER DEDUCTIBLE SOUNDS GOOD, BUT HERE’S MY TAKE
- I get the logic behind higher deductibles for lower premiums, but in my experience with classic cars, it’s not always that simple.
- For one thing, if you’re driving something rare or vintage, parts and repairs can be unpredictable. Even a small fender bender can turn into a big bill if you need original parts or specialized labor.
- I ran the numbers once when I was deciding on coverage for my ’68 Mustang. The premium difference between a $500 and $1,000 deductible was about $120 a year. Over five years, that’s $600 saved—sounds decent until you actually have to file a claim. One accident and you’re out that extra $500 right away.
- There’s also the “peace of mind” factor. I’d rather pay a bit more each year and know I won’t be scrambling for cash if something happens. Especially since classic cars aren’t daily drivers for most folks—sometimes they sit in the garage for months, but when they’re out, they’re magnets for attention (and sometimes trouble).
- Mid-range deductible is a fair compromise, but honestly, I lean toward lower just because of how unpredictable things can get with older vehicles. Maybe it’s different if you’ve got a newer daily driver or haven’t had any claims in years.
- One thing I learned: check if your insurer offers agreed value policies for classics. Sometimes those come with set deductibles anyway, so you don’t get much choice.
Not saying higher deductibles are wrong—just that with specialty cars (or if you’ve got bad luck like me), sometimes the math doesn’t work out as well as it looks on paper...
I get where you’re coming from. I used to think higher deductibles were a no-brainer too, until my commuter got rear-ended in a parking lot. The repair bill was just under my $1,000 deductible, so insurance didn’t help at all—felt like I’d been paying for nothing. After that, I switched to a mid-range deductible. It’s not perfect, but at least I don’t feel like I’m gambling every time I park at the grocery store. Classic cars are a whole different headache though... can’t imagine tracking down parts for those.
felt like I’d been paying for nothing
Man, that hits home. I used to tell myself, "Hey, I never get into accidents, higher deductible means lower premiums, right?" Then my mirror got swiped at the mall and the repair was just shy of my deductible. Felt like I paid for a magic trick—poof, money gone, no help. Now I just pick a number that doesn’t make my wallet cry if something dumb happens, but still keeps the monthly payment from being ridiculous. Honestly, picking a deductible feels like ordering coffee—too many options and you regret it either way.
Man, I totally get the coffee analogy. I spent way too long overthinking my deductible last year, running all these “what if” scenarios in my head. I figured, yeah, I’m a careful driver, but then a deer decided to try parkour off my hood on a road trip. Suddenly that higher deductible didn’t feel so clever. Honestly, I just try to pick a number I can stomach paying if my luck runs out—because sometimes it does, and usually when you’re miles from home.
HOW DO YOU DECIDE ON THE RIGHT DEDUCTIBLE FOR YOUR INSURANCE?
I just try to pick a number I can stomach paying if my luck runs out—because sometimes it does, and usually when you’re miles from home.
That’s exactly what’s tripping me up. I keep looking at the lower deductible and thinking, “Yeah, that’s nice, but do I really want to pay more every month just in case?” But then I look at the higher one and wonder if I’m just tempting fate. Like, is there some magic formula for this, or is it just a gut thing?
Honestly, I don’t have a ton of savings sitting around, so the idea of dropping a grand out of nowhere makes me sweat a little. But paying extra every month for the “just in case” scenario feels like a slow leak in my wallet. Anyone else just pick the cheapest option and hope for the best? Or am I missing something obvious here? This whole thing feels like a weird gamble, and I’m not sure if I’m supposed to play it safe or just roll with it.
