RAISING THE DEDUCTIBLE ISN’T ALWAYS A GAMBLE
I’d rather have peace of mind and a slightly emptier wallet than risk a surprise bill that wipes out my ramen budget for the semester.
I get where you’re coming from, but I’ve actually gone the other way. Here’s why:
- I did the math—upping my deductible saved me enough over two years to cover most minor repairs anyway.
- I drive a lot (road trips, camping, etc.), so I figured I’d rather have cash in my pocket now than pay for “what ifs” that might never happen.
- If something big does go wrong, yeah, it’ll sting, but I’ve got a backup credit card for emergencies. Not ideal, but it’s a plan.
It’s not for everyone, but sometimes the risk is worth it if you’re careful. Just depends on your tolerance for “what if” anxiety, I guess.
If something big does go wrong, yeah, it’ll sting, but I’ve got a backup credit card for emergencies.
That’s kind of where I land, too. I used to panic about “what ifs,” but after 20+ years of driving (and a couple fender benders), I realized I was paying more in premiums than I ever claimed. I keep a rainy day fund just in case, and honestly, it feels better seeing the savings add up each year. Peace of mind is great, but sometimes the numbers just make more sense.
I used to panic about “what ifs,” but after 20+ years of driving (and a couple fender benders), I realized I was paying more in premiums than I ever claimed. I keep a rainy day fund just in cas...
- I get the logic behind “peace of mind is great, but sometimes the numbers just make more sense.”
- Personally, I still keep my deductible a bit lower than the max.
- Had a buddy who got hit twice in one year—his emergency fund took a real beating.
- Guess it comes down to how much risk you’re cool with and if you can actually cover that higher deductible if things go sideways.
- For me, I just do the math every renewal and see what feels right that year...
Honestly, I see this all the time—folks underestimate how tough it is to actually pay that higher deductible when something goes wrong. Even with a solid emergency fund, back-to-back claims can really drain your savings. I always tell people to think about not just the math, but also how stressful it’d be to come up with that cash in a pinch. Sometimes peace of mind is worth a little extra on the premium side, even if it doesn’t look perfect on paper.
Sometimes peace of mind is worth a little extra on the premium side, even if it doesn’t look perfect on paper.
That really resonates with me. I used to focus just on the numbers, but after seeing a friend scramble to cover a $2,000 deductible after a fender bender, I realized it’s not always about saving a few bucks every month. There’s a lot of value in knowing you won’t be caught off guard if something happens, even if your emergency fund looks solid on paper. Life has a way of throwing multiple curveballs at once... I’d rather pay a bit more for that reassurance.
