HOW DO YOU DECIDE ON THE RIGHT DEDUCTIBLE FOR YOUR INSURANCE?
I get the whole “save money now, pay big later” thing, but with the cars I drive, I can’t risk it. One pothole and I’m staring down a four-figure repair bill—no way am I gambling on that. I’d rather pay a bit more each month than have my bank account cry if something goes wrong.
But here’s the real question: how often do you actually use your insurance? I’ve had friends who swear by high deductibles because they never file claims, but then they hit one bad streak and suddenly regret it. Is it really worth the stress just to save a few bucks a month? For me, peace of mind is worth more than eating ramen for a week... or a month.
Does anyone actually feel good about rolling the dice on their daily driver? Or is everyone just hoping their luck holds out?
I’ve seen people try to “save” with a high deductible, then wind up in my office looking like they just lost at Vegas. Honestly, most folks don’t file claims often… until they do. It’s always the guy who swore he’d never need it, then boom—hailstorm, deer, whatever. Peace of mind’s underrated if you ask me.
Peace of mind’s underrated if you ask me.
Couldn’t agree more. I’ve lost count of how many times I’ve had someone in my office, practically in tears, because they thought they were being “smart” with a $2,500 deductible. It’s all good until a tree branch decides to play darts with your windshield or a pipe bursts at 3am. Suddenly, that “savings” doesn’t feel so clever.
I get the logic—why pay more every month if you’re a careful driver or your house is new? But life’s not that predictable. I’ve seen people who never filed a claim in 20 years get hit with two in six months. It’s always the ones who say, “That’ll never happen to me.” Well, it does. And when it does, they’re stuck scrambling for cash.
Not saying everyone needs the lowest deductible out there, but folks really underestimate how much stress comes with a big unexpected bill. Sometimes paying a bit more up front is just buying yourself some sleep at night.
PEACE OF MIND VS. SAVING A FEW BUCKS: MY TAKE
I hear you on the peace of mind thing. I’ve been there, thinking I was being clever by picking a higher deductible just to shave a few dollars off my monthly bill. Back when I picked up my first classic—a ’72 Chevelle—I figured, “Hey, it’s garaged, I’m careful, what could go wrong?” Fast forward a year, and a hailstorm decided to use my roof as target practice. That deductible stung way more than I expected.
Here’s how I look at it now, step by step:
1. First, I ask myself how much cash I could realistically pull together in an emergency. Not what I wish I had, but what’s actually sitting in my account, ready to go. If the deductible is more than that, I know I’m setting myself up for a headache.
2. Next, I think about how often I’ve needed to file a claim in the past. Sure, I’m careful, but stuff just happens—especially with older cars or houses. Even if you’re the world’s safest driver, you can’t control the weather or what other people do on the road.
3. Then, I compare the difference in premiums. Sometimes the savings aren’t even that big. Like, is it really worth risking a $2,000 hit just to save $10 a month? For me, not really.
4. Finally, I try to picture how I’d feel if something did happen. Would I be losing sleep over the money? If the answer’s yes, I know it’s not worth it.
I get why some folks want to gamble on a higher deductible, especially if money’s tight. But after that hailstorm, I realized I’d rather pay a bit more for the peace of mind. It’s not just about the car or the house—it’s knowing I won’t be scrambling if life throws a curveball.
Not saying there’s a one-size-fits-all answer, but for me, the stress just isn’t worth the “savings.”
Funny how insurance always seems like a “set it and forget it” thing until you’re on the wrong end of a freak hailstorm or someone’s runaway shopping cart. I’ve seen folks agonize over saving $15 a month, only to end up with a deductible that makes their wallet cry when things go sideways. Your point about knowing what you can actually afford to pay out-of-pocket is spot on—no sense in banking on optimism when Murphy’s Law loves to visit.
One thing I’m curious about: does anyone actually change their deductible after a close call, or do most people just stick with what they picked at the start? I’ve had clients swear they’ll lower it after a scare, but then inertia sets in and nothing changes. Maybe it’s just human nature to hope lightning (or hail) won’t strike twice...
