I get wanting to save by raising deductibles, but honestly, after a hailstorm trashed our roof last year, I was glad we didn’t skimp. Those “extras” felt worth it when the adjuster actually covered stuff I’d have missed. Sometimes peace of mind really is worth a few extra bucks.
Honestly, I get where you’re coming from, but I still lean toward higher deductibles and skipping the bells and whistles.
Maybe, but for me, peace of mind is knowing I’m not overpaying every year for stuff I might never use. After our neighbor’s claim got denied for “wear and tear” anyway, I started thinking it’s all a bit of a gamble. I’d rather keep more cash in my pocket and self-insure for the little stuff. Just my two cents.Sometimes peace of mind really is worth a few extra bucks.
That’s a solid approach. I’ve always thought insurance is a bit of a numbers game, and if you’re comfortable handling smaller repairs out of pocket, why pay extra every year for coverage you’ll probably never tap into? It’s easy to get sucked into paying for every possible add-on, but at the end of the day, most claims seem to get nitpicked anyway. Your neighbor’s experience with the “wear and tear” denial just proves that peace of mind isn’t always guaranteed, even with a pricier policy.
I’ve run the math a few times myself—upping the deductible and stripping down unnecessary extras usually saves quite a bit over the years. The only thing that gives me pause is those rare, big-ticket disasters, but even then, having a higher deductible just means you’re not nickel-and-diming yourself on premiums. I’d rather keep my emergency fund healthy and only lean on insurance when it’s truly catastrophic.
Honestly, I think more folks should look at it this way. There’s a sense of control in knowing exactly what you’re paying for and not relying on an insurance company to bail you out for every little thing. Sure, some people want that blanket security, but for those of us who like to keep things lean, your strategy makes a lot of sense.
I get where you’re coming from. I’ve always leaned toward a higher deductible myself, just to keep those monthly costs down. Like you said,
Still, I admit I get a little nervous about the “what if” scenarios—like tornadoes or some freak accident. But in my experience, most of the little stuff isn’t worth filing anyway. Your approach feels practical, especially if you keep a solid emergency fund. Insurance is supposed to be for the big stuff, right?“having a higher deductible just means you’re not nickel-and-diming yourself on premiums.”
Honestly, I get the logic behind higher deductibles, but I’ve seen a few neighbors get burned by that approach. Here’s my take:
- Tornadoes and hail aren’t exactly rare in Missouri. If you end up with a $5k deductible and a big storm hits, that’s a tough pill to swallow, even with an emergency fund.
- Sometimes, smaller claims add up—like roof repairs or water damage. If you never file, sure, you save, but if you need to file twice in a few years, those savings disappear fast.
- I’d rather pay a bit more monthly for peace of mind. Not saying low deductibles are always better, but it’s worth running the numbers for your area.
Just my two cents... everyone’s risk tolerance is different.