I guess it comes down to how much risk you’re comfortable carrying... but for me, peace of mind is worth a few extra bucks each month.
That’s pretty much how I look at it too. With kids and all, I just don’t want to be stressing about a big bill if something random happens. Have you ever actually had to pay out a high deductible? I always wonder if the savings really add up over the years, or if it just feels like you’re tempting fate.
I just don’t want to be stressing about a big bill if something random happens.
Same here. I had a $1,000 deductible once and of course, the year I tried to save money, someone sideswiped me in a parking lot. Ended up regretting it... peace of mind is worth a lot, honestly.
I had a $1,000 deductible once and of course, the year I tried to save money, someone sideswiped me in a parking lot. Ended up regretting it...
I get what you mean about peace of mind. That “of course, the year I tried to save money, someone sideswiped me” thing is exactly what I worry about. I’ve run the numbers a few times and honestly, the savings from a higher deductible never seem worth the stress for me. But I’m curious—has anyone actually come out ahead by going with a higher deductible for a few years? Or does it usually just end up biting you when you least expect it?
I tried the higher deductible route a few years back, thinking I’d just pocket the difference every month. It looked good on paper, but then my kid backed into a pole and suddenly I was out $1,000. The “savings” I’d built up barely covered it. Honestly, unless you’re super disciplined about setting aside the extra cash, it’s a gamble. Peace of mind is worth something too, not just the math.
Been there, done that—thought I was a genius saving on premiums, then my wife’s car met a rogue shopping cart. Suddenly, my “rainy day fund” was more like a drizzle. Lower deductible just feels safer, even if it costs a bit more.
