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

I totally get where you’re coming from. I drive a ton for work, and last year I went with a higher deductible to save on monthly payments. It felt smart until I got a cracked windshield and had to pay most of it out of pocket. The savings were nice, but that one repair wiped out what I’d saved. If you’re on the road a lot, middle ground might be the sweet spot - less stress if something random happens. Just my two cents...

If you’re on the road a lot, middle ground might be the sweet spot - less stress if something random happens.

That’s exactly where I landed after a similar situation. We had a fender bender in the school parking lot - nothing major, but the deductible stung. I’d rather pay a bit more each month and not worry as much when life throws curveballs.

I've wondered about this too. Is it worth saving a few bucks each month if it means you might get hit with a big bill when something minor happens? I had a friend who raised her deductible to save money, then a rock cracked her windshield and she was stuck paying out of pocket because the repair didn't even hit her deductible. Do most people actually end up ahead with the higher deductible, or is it just a gamble that rarely pays off?

Is it worth saving a few bucks each month if it means you might get hit with a big bill when something minor happens?

- I’m new to all this and honestly, that’s the part that worries me.
- Saving money every month sounds good, but what if something small goes wrong?
- If a cracked windshield or a flat tire doesn’t even hit the deductible, am I just paying for peace of mind?
- Does anyone actually track how much they save vs. what they pay out of pocket over a few years?
- Is there a “sweet spot” for deductibles, or is it just about luck and how careful you are?

Would You Risk a Higher Deductible to Lower Your Insurance Bill?

If a cracked windshield or a flat tire doesn’t even hit the deductible, am I just paying for peace of mind?

- I’ve gone back and forth on this exact thing. With a higher-end car, repairs aren’t cheap, but neither is the insurance. Here’s what I’ve noticed:

- Minor stuff like windshields or tires almost never hits my deductible. I end up paying out of pocket anyway. The only time insurance really kicked in was when someone sideswiped me in a parking lot and the repair bill was ridiculous.

- I do track what I’m saving vs. what I’m paying. Over five years, the higher deductible saved me about $1,200 in premiums, but I had to cough up $1,000 once for a claim. So... it kind of balanced out, but it stings when you have to pay that lump sum.

- There’s no magic “sweet spot.” It’s a gamble. If you’re super careful and lucky, higher deductible wins. If you have bad luck (or live somewhere with lots of fender benders), it can bite you.

- For me, peace of mind is worth something, but not enough to pay double the premium. I’d rather keep some cash set aside for emergencies and roll the dice with a higher deductible.

- One thing: check if your insurance offers glass coverage separate from the main deductible. That’s saved me a couple times - windshield replacements are surprisingly common.

- At the end of the day, it’s about your risk tolerance. If you’d lose sleep over a big bill, maybe stick with the lower deductible. If you’re okay taking a calculated risk and can cover the worst-case scenario, the savings do add up.

- Just don’t forget to actually set aside what you save each month. Otherwise, it’s easy to spend it and get caught short when something does happen. Learned that one the hard way...