Would you risk a higher deductible to lower your insurance bill?

Yeah, I totally get where you’re coming from. I tried the high deductible thing too, thinking I’d just be extra careful with my car. But then someone dinged my door in a parking lot and took off - didn’t matter how careful I was. Ended up paying way more out of pocket than I ever saved on premiums. Now I just budget for the higher monthly and don’t stress as much about the “what ifs.” Peace of mind’s worth it, especially with how unpredictable people can be around nice cars.

- Been there too - thought I was being smart with a higher deductible, but then a rock cracked my windshield on the highway.
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“didn’t matter how careful I was”

I keep going back and forth on this. On one hand, the math seems to favor a higher deductible if you rarely file claims, especially for someone like me who just started driving and doesn’t have a long history of accidents (knock on wood). But then I hear stories like yours, where something totally random happens - like a rock on the highway - and suddenly all those “savings” disappear in one go. Makes me wonder if it’s really worth the risk.

Has anyone actually tracked how much they’ve saved (or lost) over a few years by going with a higher deductible? I’m curious if there’s a sweet spot where the premium drop actually outweighs the risk for most people, or if it’s usually just a gamble that feels smart until luck runs out. Also, does the type of car you drive make a difference? Like, are some cars more likely to get hit with those random repairs that would eat up your deductible anyway?

I get wanting less stress - having to shell out a big chunk unexpectedly would definitely mess with my budget. But at the same time, if you never make a claim, it feels like leaving money on the table. Is there any way to know if you’re actually coming out ahead, or is it really just about your own comfort level with risk?

I’ve been a daily commuter for years, and I wrestled with this exact question when I switched jobs and suddenly found myself racking up way more miles. Back then, I bumped my deductible from $500 to $1,000 hoping to shave a bit off my monthly bill. The savings were decent - maybe $20 a month - which adds up, but it’s not exactly life-changing.

Here’s where it got interesting: about two years in, some guy sideswiped my car in a parking lot and took off. The repair was just over $1,100. I was on the hook for the full $1,000 before insurance kicked in. All those “savings” from the higher deductible? Pretty much wiped out in one hit. If I’d stuck with the lower deductible, I would have paid less overall, at least in that snapshot.

But that’s just one story. The thing is, if you go five years without a claim, you’re definitely ahead with the higher deductible. It’s really a gamble, and whether you win or lose depends almost entirely on luck (and maybe how much time you spend on the road). I drive a pretty basic sedan - nothing fancy or expensive to fix - so I don’t think the type of car made much difference in my case. But I’ve heard friends with newer cars or certain imports get hit with pricier repairs even for minor stuff, so maybe that tips things.

I totally get what you mean about the stress factor. If having to cough up a grand out of nowhere would totally wreck your budget, it might not be worth the risk. For me, after that incident, I actually went back to the lower deductible just for peace of mind. It stings paying more each month, but at least I know I won’t be scrambling if something random happens again.

Long story short: unless you’re super disciplined about setting aside the money you save each month (which I wasn’t), it’s tough to say if there’s a true sweet spot. Sometimes it’s just about how much risk you’re comfortable carrying around in your back pocket.

Man, I hear you on the “gamble” part. I’ve had two not-at-fault accidents in three years, so for me, higher deductible just feels like tempting fate. Sure, it looks good on paper, but with my luck? Not worth the stress.