"Having to suddenly shell out a big chunk of cash was rough...even though I had an emergency fund, it still hurt to dip into it."
I get your point about peace of mind, but isn't that exactly what an emergency fund is for? I mean, if you're already setting money aside specifically for unexpected expenses, why pay extra every month just to avoid using it? I've always gone with higher deductibles myself—yeah, it's a gamble, but over the years I've saved enough on premiums to cover a couple of deductibles easily. Maybe it's just me, but I'd rather keep more cash in my pocket month-to-month and deal with the occasional hit when it happens. Have you ever calculated how much extra you're paying annually for that lower deductible? Might be worth checking out...
Totally get your logic on higher deductibles, especially if you're disciplined enough to stash away the savings. A few things I'd add from my experience:
- If your ride's something special—like a classic or collector car—repair costs can skyrocket quick, so a lower deductible might actually make sense.
- Also, think about parts availability. With my vintage Mustang, even minor repairs can mean hunting down rare parts...which adds up fast.
- Bottom line: crunch the numbers regularly. Insurance companies tweak their rates, and what made sense last year might not today.
Good points about classics and rare parts...makes sense. Curious though, do you factor in your driving habits or mileage when choosing deductibles? Seems like that could shift the math quite a bit.
Definitely, mileage and driving habits matter quite a bit. If you're someone who drives daily in heavy traffic or long distances, your risk naturally goes up. In that case, a lower deductible might save you headaches down the road. For occasional drivers or short commutes, raising it could make sense financially...just weigh your comfort level carefully.
"For occasional drivers or short commutes, raising it could make sense financially...just weigh your comfort level carefully."
Good points there, but honestly, I think it's not just about mileage or commute length. I've got a '68 Mustang that barely sees daylight (garage queen, guilty as charged), and even though I drive it maybe once or twice a month, I still keep a pretty low deductible. Why? Because classic parts aren't exactly cheap or easy to find, and one little fender bender can turn into a scavenger hunt nightmare real quick.
On the flip side, my daily driver—a boring but reliable sedan—has a higher deductible. If something minor happens, I'm not losing sleep over it. But with the Mustang, peace of mind is worth paying a bit extra upfront. So yeah, mileage matters, but don't overlook the type of car you're insuring and how much hassle you're willing to deal with if things go sideways. Just my two cents...
