"Isn't it more about your emergency fund situation?"
Totally agree with this point. Mileage can factor in a bit, sure, but it's definitely not the main thing I look at. For me, it's always been about balancing risk tolerance and savings. If you've got enough set aside to comfortably cover a higher deductible, then it usually makes sense to go that route and save on premiums over time. But if you're someone who stresses easily about unexpected expenses, even if you technically have the funds, paying a little extra monthly for peace of mind might be worth it.
Also, don't forget to factor in your driving environment—city vs rural, parking on busy streets vs private garage. My wife's car got sideswiped while parked downtown last year...higher deductible meant we paid more out-of-pocket, but overall we've still saved money by keeping premiums lower. Just something else to consider.
"paying a little extra monthly for peace of mind might be worth it."
Yeah, that's exactly how I see it too. I commute daily in heavy traffic, and honestly, knowing I'm not one fender-bender away from a huge bill helps me sleep better at night...worth every penny imo.
I commute daily in heavy traffic, and honestly, knowing I'm not one fender-bender away from a huge bill helps me sleep better at night...worth every penny imo.
Interesting points here. I get the appeal of paying a bit extra monthly, but have you considered how often you realistically expect to file a claim? I'm pretty cautious with my classic Mustang—only drive it weekends and keep it garaged—so I opted for a higher deductible. Figured the odds of needing major repairs were low enough that saving monthly made sense. Ever done the math on your driving habits versus deductible cost? Curious how others approach this...
That's a fair point about weighing the odds of actually filing a claim. But honestly, from what I've seen, it's not always just about the math. I've worked with plenty of folks who crunch numbers and still choose lower deductibles simply because it eases their anxiety—especially if they're commuting daily in heavy traffic like OP mentioned. Even cautious drivers can get caught up in situations beyond their control (trust me, I've heard some wild stories...).
I think it really comes down to personal comfort level and financial situation. If having a lower deductible helps someone sleep better at night, that's valuable peace of mind—even if they never end up filing a claim. On the flip side, if you're comfortable absorbing a higher out-of-pocket cost in exchange for lower premiums, that makes sense too. There's no one-size-fits-all answer here; it's all about balancing risk tolerance with your budget and driving habits.
- Totally get the anxiety thing. My wife and I debated this exact issue last renewal. She's the "better safe than sorry" type, while I'm usually the one saying, "Come on, what are the odds?"
- Funny enough, right after we opted for a higher deductible to save on premiums, I had a near miss with a deer at night. No joke, missed him by inches...talk about instant regret and heart palpitations.
- But even after that scare, I still think higher deductibles make sense for us. We put aside what we save on premiums into an emergency fund. That way if something does happen, we're prepared (at least financially—emotionally is another story).
- Also depends on your car, right? Our family car is pushing 10 years old now. If it were newer or leased, I'd probably lean toward a lower deductible to avoid big out-of-pocket surprises.
- And let's be honest, some people just have rotten luck. My neighbor swears he's cursed—he's had three minor accidents in two years, none of them his fault. At this point, he's practically best friends with his insurance adjuster.
- Curious if anyone else here has changed their deductible based on personal experience rather than just numbers alone? Seems like once you've been burned, it definitely changes your perspective...
