Yeah, the premium drop for a higher deductible can be kinda underwhelming. I’ve had clients who thought doubling their deductible would slash their bill, but it barely moved. Sometimes you’re better off keeping that ramen money in your pocket and just going with what feels manageable.
Honestly, I’ve seen folks get all excited about bumping up their deductible, thinking it’ll save them a ton, but the premium drop is sometimes just... meh. It’s like, why risk more out of pocket for a few bucks off? I usually ask: could you actually pay that higher deductible tomorrow if you had to? If not, maybe stick with what won’t make you sweat.
I bumped my deductible up last year thinking I’d pocket some real savings, but honestly, the premium barely dropped. Ended up stressing every time I heard a weird noise from my car. Not worth the headache if you’re not ready to cover that chunk out of nowhere.
Ended up stressing every time I heard a weird noise from my car. Not worth the headache if you’re not ready to cover that chunk out of nowhere.
Totally get this. I tried bumping my deductible once, thinking “how often do I really need repairs?” But with a German sedan, every rattle gets my wallet nervous. Do you factor in how much repairs could actually cost for your specific car? Sometimes that “chunk” is way bigger than you expect, especially with luxury parts. Ever had to actually pay out that higher deductible, or did you switch back before anything happened?
HIGHER DEDUCTIBLE SOUNDS GOOD UNTIL YOU GET THAT BILL
That’s a good point about factoring in the actual repair costs for your specific car. I see a lot of folks underestimate what a “minor” accident can run, especially with European brands—those parts and labor rates are no joke. I’ve seen claims where people thought they’d save a ton with a $1,000 deductible, then got hit with a $2,500 bill for a bumper and sensors. Suddenly that “savings” doesn’t feel so great.
Curious if you looked at the actual difference in premium before switching? Sometimes the annual savings for a higher deductible barely covers the risk, especially if you’re the type to worry about every sound or ding. I’ve noticed some people are more comfortable with the risk than others, but for peace of mind, a lower deductible can be worth the extra cost. Ever regret not just sticking with the standard option?
