Yeah, that's a good point—unexpected repairs can really sneak up on you. I used to think going with the highest deductible was always the smartest move (lower premiums, right?), but then my alternator went out last year... and man, that bill hit harder than I expected. Made me rethink things a bit.
I guess it comes down to how much you're comfortable paying out of pocket if something does go wrong. Do you have a little cushion set aside for emergencies? If yes, maybe the premium savings could still make sense. But if you're already tight on cash flow, those smaller repairs piling up might hurt more than the higher premium would.
Have you looked back at your past few years' expenses to see how often you've actually needed repairs? That helped me get a clearer picture of what deductible made sense for my situation.
"Have you looked back at your past few years' expenses to see how often you've actually needed repairs?"
That's exactly what I've been trying to do lately. Since it's my first time getting insurance, I'm a bit cautious about jumping straight into a high deductible. I did some quick math based on my last year's car maintenance, and honestly... even minor stuff added up quicker than I thought. I'd rather pay a bit more monthly than suddenly face a huge bill I wasn't ready for.
"I'd rather pay a bit more monthly than suddenly face a huge bill I wasn't ready for."
That's understandable, especially if you're not used to budgeting for unexpected expenses. But keep in mind, insurance deductibles aren't exactly like regular car maintenance costs. Routine maintenance—oil changes, brake pads, tires—that stuff typically isn't covered by your auto policy anyway. Deductibles mostly come into play with accidents or major damage events, and those don't usually happen every year (hopefully!).
When I first started driving, I also leaned toward lower deductibles because it felt safer financially. But after a few years without claims, I realized I'd paid quite a bit extra each month for peace of mind that never really got tested. Have you considered setting aside the difference you'd save monthly with a higher deductible into an emergency fund instead? That way you're prepared either way, and if nothing happens, you've got some extra cash sitting around...
Have you considered setting aside the difference you'd save monthly with a higher deductible into an emergency fund instead? That way you're prepared either way, and if nothing happens, you've got ...
I used to go for the lowest deductible too, thinking I'd avoid a nasty surprise. But after years of no claims, I did the math and realized I'd basically paid extra just to feel safer. Now I keep a higher deductible and stash the savings aside...just in case.
"I did the math and realized I'd basically paid extra just to feel safer."
Same here. When I first got my car, I went low deductible thinking luxury repairs would be brutal. Turns out, years passed without a single claim. Switched to higher deductible, pocketed the difference...no regrets yet.
