- Been there with the parking lot dings—my car’s basically a magnet for runaway carts.
- I get the logic behind raising the deductible, but my luck’s so bad I’d probably get hit by a meteor the day after I switch.
- For me, peace of mind is worth a few extra bucks a month. I’d rather pay a little more than stress every time I park at the grocery store.
- That said, having an emergency fund is smart. I just know myself... if I see extra cash sitting around, it mysteriously turns into pizza and impulse buys.
For me, peace of mind is worth a few extra bucks a month. I’d rather pay a little more than stress every time I park at the grocery store.
That resonates, especially if you’ve got a car you really care about. I’ve spent years hunting for parts for my ‘72 Chevelle, and even a small scratch can turn into a whole ordeal. One thing I always wonder—do most people calculate the break-even point? Like, how many years would you have to go claim-free before the higher deductible actually saves you money?
And then there’s the hassle factor. Even if you have the emergency fund, do you really want to dip into it for something minor, or would you rather just hand it over to the insurance company and be done? I totally get the “pizza and impulse buys” thing too... money in the bank has a way of evaporating around here.
Does anyone actually adjust their deductible based on where they park or how often they drive? Or is it just set-and-forget for most folks?
Does anyone actually adjust their deductible based on where they park or how often they drive? Or is it just set-and-forget for most folks?
Honestly, I’ve always just left mine where it was when I signed up, but lately I’m rethinking that. My neighborhood’s not the safest, and I’ve had my car dinged twice in the last year. Feels like “set-and-forget” is just wishful thinking for some of us. Anyone else ever get burned by a low deductible when you thought you’d never need it? Or is it just me being paranoid?
I hear you—set-and-forget doesn’t really work for me either, especially after a couple of close calls. I upped my deductible last year thinking it’d save me on premiums, but then when my car got broken into, I realized the savings didn’t really make up for how much I had to shell out. It’s a gamble, honestly. Do you think it makes sense to change your deductible seasonally or if your routine changes, like moving or switching jobs? I’ve always wondered if people actually do that or if most just stick with one number and hope for the best...
Do you think it makes sense to change your deductible seasonally or if your routine changes, like moving or switching jobs?
That’s a really interesting idea. I don’t think most people actually adjust their deductible that often, but in theory, it could make sense. For example, if you’re moving to a city where break-ins are more common, lowering your deductible (even if it costs a bit more per month) might be worth it. On the flip side, if you’re suddenly working from home and barely driving, a higher deductible could save you some cash since your risk drops.
I tried the “set it and forget it” approach for years, but after a hailstorm trashed my car, I started looking at my policy at least once a year. It’s easy to underestimate how much your situation changes. Most insurers let you tweak your deductible whenever you want, though some might have limits or fees. I wouldn’t say seasonal changes are common, but reassessing after a big life change—like a move or new job—seems smart. Otherwise, you’re just hoping for the best and crossing your fingers the numbers work out... which, as you found out, isn’t always the case.
