Good point about crunching the numbers—I did that recently and realized the lower deductible wasn't worth it for me. With my driving record (let's just say I've had better years...), saving on premiums upfront made more sense financially. Definitely depends on your situation though.
Totally agree—running the numbers is key. A few other things I usually factor in:
- **Vehicle age and value**: For my classic Mustang, I actually keep a lower deductible since repairs can get pricey fast (trust me, learned that one the hard way...).
- **Emergency fund status**: If you've got solid savings set aside, higher deductibles usually make sense because you can comfortably cover unexpected costs.
- **Driving habits**: Like you said, driving record matters, but also mileage and location—city driving vs. weekend cruises changes the risk profile quite a bit.
Definitely not one-size-fits-all.
Good points on factoring in emergency funds and driving habits. One thing I'd add is to consider your comfort level with risk. I've worked with clients who, even with solid savings, prefer a lower deductible simply because it gives them peace of mind. Sometimes the numbers might favor a higher deductible, but if it causes stress or anxiety, it may not be worth the savings. Personal comfort definitely matters as much as the math in some cases...
Totally agree about comfort level. I tried the higher deductible route once—figured I'd save some cash since I'm a cautious driver anyway. Then one icy morning, slid right into a curb and busted my axle...ouch. Paying that deductible hurt way more than the accident itself. Lesson learned, haha.
Good points made here. A couple things I'd add from my experience:
- Deductibles aren't just about driving skill or caution—there's always that random factor like weather or other drivers. I learned this the hard way when someone rear-ended me at a stoplight. Totally not my fault, but still had to fork over my deductible first and wait months for reimbursement.
- Also, it's worth considering your financial situation. If you've got savings set aside, a higher deductible might make sense since you can cover unexpected hits without stress. But if you're living paycheck-to-paycheck, a lower deductible could save you from a real financial pinch.
Curious if anyone factors in their car's age/value when choosing deductibles? Like, does it make sense to keep a low deductible on an older vehicle, or is it better to just save the money and risk it?
