- High deductible only makes sense if you’ve got the cash set aside for emergencies. Otherwise, it’s just stress.
- I tried it once, too. Saved maybe $200 a year, but when my water heater flooded the basement, I was out way more than that.
- If you’re living paycheck to paycheck, low deductible is safer. If you’ve got a fat emergency fund, maybe it’s worth the risk.
- For me, peace of mind beats saving a few bucks. Insurance is supposed to help you sleep at night, not keep you up worrying about “what ifs.”
Been there with the high deductible route on my car insurance. Looked good on paper, but when a deer ran into my fender, I was suddenly wishing I’d paid a little more each month instead of coughing up a big chunk all at once. If you’ve got the savings, maybe it’s fine, but honestly, I’d rather just avoid the headache. Peace of mind’s worth something, even if it costs a bit extra.
I get where you’re coming from. The high deductible option always looks appealing when you’re just crunching the numbers, but it’s a different story when you actually have to file a claim. I’ve run the math a few times myself, and while the monthly savings are tempting, it really boils down to your risk tolerance and how much you’ve got set aside for emergencies.
One thing I’ve noticed is that people often underestimate how disruptive it can be to suddenly come up with $1,000 or more after an accident. Even if you technically have the money in savings, there’s something about watching that chunk disappear overnight that stings more than paying a bit extra each month. Plus, like you said, peace of mind isn’t easy to put a price on.
That said, I think there’s a middle ground. Some insurers let you tweak your deductible in smaller increments—say, $500 instead of jumping straight to $1,000 or higher. That way you can still shave off some cost without taking on quite as much risk. Also worth checking if your insurer offers accident forgiveness or similar perks; sometimes those can soften the blow if you do end up needing to make a claim.
I guess for folks who rarely drive or have an excellent track record, rolling the dice with a higher deductible might make sense. But for most people—especially if you live somewhere with lots of wildlife or unpredictable weather—I’d lean toward keeping things manageable. It’s not just about the math; it’s about avoiding unnecessary stress when life throws curveballs... or deer... your way.
I hear you on the “peace of mind” thing. I tried the high deductible route a couple years back because, honestly, the monthly savings looked pretty sweet on paper. But then I hit a pothole (thanks, city roads) and had to cough up $1,000 right before rent was due. Not fun. Even though I technically had the money, it just felt like a punch in the gut.
I get why people do it, especially if they’re not driving much or have a spotless record. But for me, the stress wasn’t worth it. I ended up switching back to a $500 deductible—costs a bit more each month, but at least I’m not sweating every time I see a squirrel dart across the road.
The accident forgiveness thing is interesting, though. Never really looked into that before. Might be worth checking out if it helps take the sting out of one bad day. At the end of the day, I guess it’s just about what helps you sleep at night... or not panic when your car makes a weird noise.
I totally get where you're coming from—those “savings” don’t feel so sweet when you’re staring down a surprise bill. Accident forgiveness is one of those things that sounds great, but I’ve seen it work out both ways. Sometimes the premium bump for adding it basically cancels out the peace of mind. Out of curiosity, did your rates actually drop much when you switched to the higher deductible? I’ve seen people get like $10 off a month, which barely feels worth the risk.
