Car insurance discussions and local services.
Deductibles demystified: how tweaking mine saved me cash
Discussion options
I used to just pick the lowest deductible thinking it was safest, but turns out bumping it up a bit lowered my premiums enough to actually save money overall. Anyone else played around with theirs and noticed a difference?
1 reply
Compare the premium reduction over several years with the extra amount you’d pay after a claim. If raising the deductible saves $250 per year but adds $1,000 to your claim cost, you’d need four claim-free years just to break even.
Before choosing the higher option, keep that deductible in an emergency fund, ideally in readily accessible cash. A lower premium isn’t much of a saving if an accident or covered repair leaves you unable to cover the out-of-pocket portion.
Join the conversation
Share your experience or ask a follow-up question.