HIGH DEDUCTIBLE LOOKS GOOD UNTIL IT DOESN’T
That’s a really solid point about the repair costs on older cars. People see that premium drop when they crank the deductible up, and it feels like a win—until life throws a curveball. I learned that lesson the hard way with my old Camry. Thought I was being clever by taking the highest deductible, figuring I’d pocket the difference every month. Then I hit a deer on a rainy night, and suddenly I was out $1,500 before insurance even kicked in. That “savings” vanished in one night.
I get why folks chase every discount—those military deals are legit, and safe driver perks can add up—but there’s always a tradeoff. It’s easy to focus on what you’re saving monthly and forget what you’d actually have to pay if something goes wrong. And with classic or specialty cars, like you mentioned, the math gets even trickier. Parts aren’t cheap, and labor can be a nightmare.
One thing I’ve started doing is looking at my emergency fund alongside my deductible. If I can’t comfortably cover that out-of-pocket cost without dipping into money earmarked for other things, it’s probably too high for me. Maybe not everyone thinks like that, but it keeps me from getting blindsided.
Discounts are great—no argument there—but sometimes peace of mind is worth paying a little more each month. It’s not just about “if” something happens, but how much it’ll hurt if it does.
Totally get what you’re saying about those high deductibles. I’ve been tempted by the lower monthly rates too, but as someone who’s had a couple fender benders (not proud of it), I realized real quick that paying less up front can sting hard later. Had a minor accident last year, and my “cheap” plan meant I was scrambling to cover the deductible. Not fun.
Military discounts are awesome, no doubt, but yeah—sometimes it’s worth paying a little extra for that peace of mind. Especially if you know you’re not the luckiest driver out there... or if your car’s already seen some miles. I try to keep my deductible at a number that won’t wreck my budget if things go sideways.
It’s easy to get caught up in saving a few bucks, but like you said, it’s about how much pain you can handle if something actually happens. Learned that one the hard way.
Honestly, I get where you’re coming from, but I’ve always leaned toward the higher deductible route. I drive a lot for work—like, a LOT—and the savings on monthly premiums really add up for me over the year. I just stash the difference in a little “car mishap” fund. It’s a bit of a gamble, but so far it’s worked out. Guess it just depends on how much risk you’re cool with. Not saying it’s for everyone, but for folks who rarely file claims, it can make sense.
HIGH DEDUCTIBLE WORKS FOR SOME, BUT NOT FOR MY OLD RIDE
I just stash the difference in a little “car mishap” fund. It’s a bit of a gamble, but so far it’s worked out.
That’s actually a smart move if you’re disciplined about setting that money aside. I’ve thought about going the high deductible route myself, but with my old ‘72 Chevelle, I just can’t bring myself to risk it. Parts aren’t cheap and if something happens, even a minor fender bender can get pricey real quick. I guess I’m just too cautious—maybe even a little paranoid, honestly.
But hey, if you’re driving newer cars and don’t have a history of claims, your approach totally makes sense. The “car mishap” fund is a clever way to hedge your bets. I just know my luck... the second I raise my deductible, some distracted driver’s gonna back into me at the grocery store. Maybe I’m just too attached to my ride to roll the dice.
Props for making it work for you though. It’s all about what helps you sleep at night, right?
- I totally get not wanting to risk it with an older car, especially something classic like a ‘72 Chevelle.
- My first time buying insurance, I went with a lower deductible just for peace of mind.
- Even with a military discount, I still felt better knowing I wouldn’t get slammed with a huge bill if something happened.
- Guess it depends on your comfort level and how much you’re willing to gamble… I’m probably a bit too cautious, but that’s just me.
