I totally get the “stash the savings” idea, but honestly, I’d mess that up and end up dipping into it for pizza night or something dumb. I just go with what I know I could pay tomorrow if my car gets sideswiped—no surprises that way. Has anyone actually had to shell out their full deductible before? Did it sting as much as I think it would?
I’ve had to pay my full deductible once, and yeah, it stung—no sugarcoating it. I was coming back from a weekend trip, parked on the street, and someone sideswiped my car. They didn’t leave a note or anything. My deductible was $1,000 at the time because I’d picked the “save on premiums” route. When the shop called with the estimate, I swear my stomach dropped. It wasn’t like I didn’t have the money, but watching that chunk disappear from my travel fund… not fun.
I get what you mean about “stash the savings”—it sounds good in theory but real life gets in the way. For me, it’s easier to set a deductible that matches what I could actually pay tomorrow without scrambling or dipping into stuff earmarked for something else. If that means my monthly premium’s a bit higher, I just factor it into my budget like gas or oil changes.
Honestly, after that incident, I started looking at deductibles more as “what will hurt least if things go sideways?” rather than “how much can I save if nothing happens?” The peace of mind is worth it for me. That said, everyone’s risk tolerance is different. Some folks are fine with higher deductibles because they know they’ll never touch their emergency fund unless they really have to... I’m just not disciplined enough for that.
If you’re worried about temptation (pizza night is a real threat), keeping your deductible lower just makes sense. At least then you’re not caught off guard if something happens—no guilt trips over dipping into savings meant for emergencies but spent on takeout instead.
Honestly, after that incident, I started looking at deductibles more as “what will hurt least if things go sideways?” rather than “how much can I save if nothing happens?”
That’s an interesting way to look at it. I keep hearing that higher deductibles are “smarter” if you rarely file claims, but it’s hard to predict if you’ll actually need to use your insurance. Has anyone ever regretted going with a lower deductible, or does it just feel like wasted money if you never have an accident?
Has anyone ever regretted going with a lower deductible, or does it just feel like wasted money if you never have an accident?
I totally get that feeling. I went for the lower deductible because the idea of suddenly coughing up a huge chunk of cash freaked me out. But sometimes I look at my premiums and think, “Man, am I just paying extra for nothing?” It’s like paying for gym membership and never actually going… but at least with insurance, you hope you never have to use it.
I actually went the other way and picked a higher deductible to keep my monthly costs down. I drive a lot for work, so every dollar counts. Honestly, I’ve had a couple of close calls but never needed to file a claim. Sometimes I wonder if I’m just rolling the dice, but for me, having that extra cash in my pocket each month feels worth it. Guess it depends on how much risk you’re comfortable with... and maybe how lucky you feel?
