I totally get the spreadsheet thing—been there myself! A few years back, I had a similar debate when I moved to a quieter suburb after living in a busy city. At first, I stuck with my super-low deductible because it felt safer. But then one day, just out of curiosity, I ran the numbers (yep, spreadsheet nerd here too) and realized I'd been overpaying for years. Honestly, most minor dings or scrapes didn't even hit my deductible threshold anyway, so I was basically paying extra premiums for peace of mind that wasn't really helping me financially.
Switching to a higher deductible ended up saving me a decent chunk of change each year. Of course, everyone's situation is different—you've gotta factor in your own comfort level and emergency savings too. But yeah, your gut instinct about reassessing periodically is spot-on. Life changes, driving habits shift...it's smart to revisit every couple years just to be sure you're still making the right call.
That's a really good point about minor dings rarely even hitting the deductible. I see this all the time—people paying extra for a low deductible they never actually use. Usually, I tell folks to think about their driving habits and their savings cushion. If you're someone who rarely drives or mostly sticks to quiet roads, a higher deductible can make a lot of sense financially.
But if you're commuting daily in heavy traffic or parking on busy streets, sometimes that lower deductible can still be worth it, just for peace of mind. It's all about balancing your comfort level with the numbers. And yeah, totally agree about revisiting every couple years—life changes fast, and what worked two years ago might not be the best choice today.
You make some solid points, but I'd argue there's another angle worth considering. Even if someone mostly drives on quiet roads or doesn't commute daily, unexpected events can still happen—especially if you're into road trips or longer drives. I've had a couple of experiences myself where I was miles away from home, on a seemingly calm highway, when debris or wildlife caused damage to my car. Those incidents weren't minor dings either; they were costly enough that having a lower deductible saved me from a significant financial hit.
So while I agree it's smart to factor in your driving habits and savings cushion, I'd also suggest thinking about how often you travel longer distances or unfamiliar routes. Sometimes the peace of mind from knowing you're covered for those rare but expensive surprises can outweigh the savings you'd get from a higher deductible. It's not always just about daily commuting or city parking—it's also about how comfortable you feel handling unexpected costs when you're far from home.
Those are fair points, but I'd say the value of a lower deductible really depends on your own financial situation more than anything else. Personally, I've done the math a few times and found that the savings from a higher deductible over several years can outweigh the occasional hit—even if it's a significant one. A couple of years back, I had a run-in with a deer on a family road trip. It wasn't cheap, but when I factored in how much I'd saved over the years by choosing a higher deductible, I still came out ahead financially.
I think it comes down to how comfortable you are with risk and your ability to absorb unexpected costs. If you've built up a decent emergency fund, having a higher deductible might actually make more sense financially. But yeah, if the idea of shelling out $1,000+ in one go makes you uneasy, then going lower is probably worth the extra premium cost for peace of mind. It's definitely not a one-size-fits-all decision.
Good points overall, and I'd add a few things from my own perspective:
- Agree that financial cushion is key. But consider your driving habits too—if you're commuting daily in heavy traffic or areas with higher accident rates, the odds of needing to use insurance go up.
- Also factor in your vehicle's age and value. Newer or higher-value cars might justify a lower deductible because repair costs can escalate quickly.
- Personally, even with a solid emergency fund, I prefer a slightly lower deductible for peace of mind. I'm cautious by nature and like knowing there's less out-of-pocket risk if something unexpected happens...
