Guess it comes down to how much risk you’re comfortable with and whether your budget can handle an unexpected bill without too much pain.
Couldn’t agree more. A few thoughts from my side:
- After 20+ years of driving, I’ve seen the “it’ll never happen to me” crowd get burned.
- Even if you save a couple hundred a year, one accident can eat that up quick.
- For me, the stress of a big deductible isn’t worth the small monthly savings.
- If you’ve got kids, pets, or a hectic schedule, accidents just seem more likely.
Maybe I’m just cautious, but I’d rather pay a bit extra and sleep easy.
I get where you’re coming from, but I’ll admit I lean a bit the other way. I drive about 60 miles round trip every day, and honestly, the math just never worked for me with a super low deductible. I did the spreadsheet thing—factored in my driving record, the odds of a claim, and how much I’d actually save over five years with a $1,000 deductible versus $500. For me, the savings added up to a couple hundred bucks a year, which I just set aside in a “car emergency” fund.
Had one fender bender in a parking lot a few years back—my first claim ever—and yeah, writing that check stung. But overall, I’ve come out ahead. I guess it depends on how much risk you’re willing to take and whether you can actually stash away those savings. If you know you’ll spend it on something else, maybe it’s not worth it. But if you’re disciplined, sometimes the higher deductible can make sense.
That said, if my commute ever gets crazier or my kids start driving, I might rethink it...
I did the spreadsheet thing—factored in my driving record, the odds of a claim, and how much I’d actually save over five years with a $1,000 deductible versus $500.
I totally relate to this approach. I’m the type who tracks every mile and keeps a running tally of what I’d actually save versus what I’d risk. I’ve got a similar commute—mine’s about 50 miles round trip—and I’ve always leaned toward a higher deductible for the same reasons you mentioned. The math just made more sense, especially since I haven’t had a claim in over a decade (knock on wood).
That said, I get a little nervous when I see more distracted drivers on the road lately. There’s always that voice in the back of my head wondering if I’m pushing my luck. But like you said, if you’re disciplined about setting aside the difference, it can really add up. I’ve actually used my “car fund” for a surprise tire blowout once, and it felt good not having to dip into savings.
I think your point about re-evaluating if your situation changes is spot on. Life throws curveballs—commute changes, new drivers in the family, whatever. It’s smart to stay flexible.
Honestly, you nailed a lot of the key points people overlook. The spreadsheet method is solid, but I always remind folks to check how much they actually have set aside for emergencies—not just what they *plan* to save. I’ve seen people pick a high deductible, then get hit with a claim and realize their “car fund” wasn’t as flush as they thought. Also, with more distracted drivers out there, sometimes it’s worth running the numbers again every year or two. Things change fast... and sometimes the peace of mind is worth a few extra bucks.
I learned the hard way that “planning” to have money set aside isn’t the same as actually having it. When I first started looking at insurance, I figured I’d just go for the higher deductible to save on premiums. Made sense on paper, right? But then my car got sideswiped in a parking lot—of course, the other driver bailed—and suddenly I was staring at a $1,000 bill I hadn’t really prepared for. Turns out, my “emergency fund” was more like a couple hundred bucks and some wishful thinking.
Honestly, I get wanting to save money each month, but if you’re not the type to squirrel away cash religiously, that high deductible can bite you. I’m not saying everyone needs the lowest deductible possible, but it’s easy to overestimate how much you’ll actually have on hand when things go sideways. Now I just pick something that feels realistic for my bank account, even if it means paying a bit more up front. Peace of mind’s worth something too... especially with how unpredictable drivers are these days.
