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how do you decide your insurance deductible amount?
I've been looking at my insurance renewal stuff lately, and honestly, I'm kinda stuck on the deductible part. Like, I get that higher deductibles mean lower premiums, but then again, if something happens, I don't wanna be stuck paying a huge chunk outta pocket, you know? Curious how everyone else decides this - do you usually go higher to save monthly, or play it safe with a lower deductible? Quick poll below:
- Higher deductible, lower monthly payments
- Lower deductible, higher monthly payments
- Somewhere in between, depends on the situation
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1 reply
"Like, I get that higher deductibles mean lower premiums, but then again, if something happens, I don't wanna be stuck paying a huge chunk outta pocket, you know?"
Yeah, that's always the tricky part. I used to go for the lowest monthly payment possible, thinking I'd just deal with it if something happened. But after a nasty windshield crack on a road trip last summer - right in the middle of nowhere - I kinda reconsidered. Now I stick somewhere in the middle...still saves me a bit monthly, but doesn't totally wreck my budget if something unexpected pops up.